DNB Asset Management AS Purchases 1,782 Shares of GXO Logistics, Inc. (NYSE:GXO)

DNB Asset Management AS boosted its position in GXO Logistics, Inc. (NYSE:GXO) by 18.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,231 shares of the company’s stock after acquiring an additional 1,782 shares during the period. DNB Asset Management AS’s holdings in GXO Logistics were worth $567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of GXO Logistics during the fourth quarter worth about $59,000. Motco raised its position in shares of GXO Logistics by 2,836.4% during the first quarter. Motco now owns 1,292 shares of the company’s stock worth $69,000 after purchasing an additional 1,248 shares during the period. Smithfield Trust Co raised its position in shares of GXO Logistics by 16.5% during the first quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after purchasing an additional 195 shares during the period. LRI Investments LLC acquired a new stake in shares of GXO Logistics during the first quarter worth about $80,000. Finally, CWM LLC raised its position in GXO Logistics by 28.1% in the 4th quarter. CWM LLC now owns 1,778 shares of the company’s stock valued at $109,000 after buying an additional 390 shares during the last quarter. Institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

Shares of NYSE GXO traded up $1.26 during midday trading on Wednesday, hitting $48.74. 32,031 shares of the company’s stock were exchanged, compared to its average volume of 852,214. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.52. GXO Logistics, Inc. has a 12 month low of $46.38 and a 12 month high of $65.75. The company’s 50 day moving average price is $50.88 and its 200 day moving average price is $51.67. The firm has a market capitalization of $5.82 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.63 and a beta of 1.60.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, analysts predict that GXO Logistics, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Buying and Selling at GXO Logistics

In other news, CEO Malcolm Wilson acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $49.95 per share, with a total value of $499,500.00. Following the acquisition, the chief executive officer now directly owns 100,814 shares in the company, valued at approximately $5,035,659.30. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GXO shares. TD Cowen lifted their target price on GXO Logistics from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Wells Fargo & Company initiated coverage on GXO Logistics in a research report on Friday, June 7th. They set an “overweight” rating and a $58.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price target on shares of GXO Logistics in a research report on Tuesday, May 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price target on shares of GXO Logistics in a research report on Wednesday, May 15th. Finally, Loop Capital lowered their price target on GXO Logistics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

About GXO Logistics

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.