Envestnet Portfolio Solutions Inc. Invests $611,000 in GXO Logistics, Inc. $GXO

Envestnet Portfolio Solutions Inc. acquired a new position in GXO Logistics, Inc. (NYSE:GXO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,553 shares of the company’s stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after buying an additional 302 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of GXO Logistics by 13.7% during the first quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company’s stock valued at $674,000 after acquiring an additional 2,076 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of GXO Logistics by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 14,004 shares of the company’s stock valued at $547,000 after purchasing an additional 380 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in shares of GXO Logistics in the 1st quarter valued at approximately $208,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in GXO Logistics by 2.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company’s stock worth $1,512,000 after purchasing an additional 886 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

NYSE GXO opened at $54.88 on Tuesday. The firm has a market capitalization of $6.28 billion, a P/E ratio of 103.55, a PEG ratio of 2.25 and a beta of 1.64. The stock has a 50-day simple moving average of $52.58 and a two-hundred day simple moving average of $46.54. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.19.

GXO Logistics (NYSE:GXO) last issued its earnings results on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. On average, equities analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GXO. The Goldman Sachs Group upgraded shares of GXO Logistics from a “neutral” rating to a “buy” rating and upped their price target for the company from $52.00 to $68.00 in a research note on Wednesday, September 24th. Stifel Nicolaus raised their target price on GXO Logistics from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Barclays lifted their price target on GXO Logistics from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Morgan Stanley cut their price objective on GXO Logistics from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. Finally, Susquehanna lifted their target price on GXO Logistics from $58.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, GXO Logistics has a consensus rating of “Moderate Buy” and a consensus target price of $61.57.

GXO Logistics Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.