Rice Hall James & Associates LLC Sells 3,273 Shares of GXO Logistics, Inc. (NYSE:GXO)

Rice Hall James & Associates LLC decreased its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 94,825 shares of the company’s stock after selling 3,273 shares during the quarter. Rice Hall James & Associates LLC’s holdings in GXO Logistics were worth $4,938,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Smithfield Trust Co lifted its holdings in GXO Logistics by 16.5% in the first quarter. Smithfield Trust Co now owns 1,378 shares of the company’s stock worth $73,000 after buying an additional 195 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of GXO Logistics by 7.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,064 shares of the company’s stock valued at $160,000 after purchasing an additional 220 shares in the last quarter. CWM LLC lifted its holdings in shares of GXO Logistics by 13.8% during the third quarter. CWM LLC now owns 1,961 shares of the company’s stock valued at $102,000 after purchasing an additional 238 shares during the last quarter. Signaturefd LLC boosted its position in shares of GXO Logistics by 37.2% in the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in GXO Logistics by 0.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 44,570 shares of the company’s stock valued at $2,251,000 after buying an additional 262 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GXO shares. JPMorgan Chase & Co. upped their price target on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Citigroup assumed coverage on GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 target price for the company. UBS Group lowered their price target on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Susquehanna dropped their price objective on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a research report on Thursday, September 26th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.91.

GXO Logistics Trading Down 3.4 %

Shares of GXO Logistics stock opened at $59.81 on Friday. GXO Logistics, Inc. has a 1-year low of $46.07 and a 1-year high of $63.33. The company’s fifty day simple moving average is $53.78 and its 200-day simple moving average is $51.63. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $7.15 billion, a PE ratio of 51.12, a P/E/G ratio of 1.85 and a beta of 1.59.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, equities analysts anticipate that GXO Logistics, Inc. will post 2.78 earnings per share for the current year.

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.