Independent Advisor Alliance Increases Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Independent Advisor Alliance increased its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 10.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 24,749 shares of the company’s stock after acquiring an additional 2,338 shares during the quarter. Independent Advisor Alliance’s holdings in GXO Logistics were worth $1,289,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GXO. Eminence Capital LP purchased a new stake in shares of GXO Logistics in the 2nd quarter valued at approximately $79,698,000. Swedbank AB purchased a new position in GXO Logistics in the first quarter worth approximately $84,672,000. Spruce House Investment Management LLC increased its stake in GXO Logistics by 827.8% during the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company’s stock worth $45,450,000 after acquiring an additional 803,000 shares during the last quarter. American Century Companies Inc. raised its position in GXO Logistics by 25.2% in the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company’s stock valued at $162,702,000 after purchasing an additional 648,547 shares during the period. Finally, Global Alpha Capital Management Ltd. acquired a new position in shares of GXO Logistics in the 3rd quarter valued at $32,434,000. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Down 1.7 %

GXO Logistics stock opened at $60.52 on Wednesday. The firm has a market capitalization of $7.23 billion, a P/E ratio of 67.24, a P/E/G ratio of 1.82 and a beta of 1.55. The stock’s fifty day simple moving average is $57.27 and its 200-day simple moving average is $52.77. GXO Logistics, Inc. has a twelve month low of $46.07 and a twelve month high of $63.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the company earned $0.69 EPS. GXO Logistics’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, equities analysts expect that GXO Logistics, Inc. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GXO has been the topic of several research analyst reports. Susquehanna reduced their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Citigroup initiated coverage on shares of GXO Logistics in a research note on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. TD Cowen increased their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays boosted their target price on GXO Logistics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, UBS Group upped their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.00.

GXO Logistics Company 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.