GXO Logistics, Inc. (NYSE:GXO) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance lifted its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,347 shares of the company’s stock after buying an additional 804 shares during the period. Independent Advisor Alliance’s holdings in GXO Logistics were worth $756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GXO. Larson Financial Group LLC lifted its position in GXO Logistics by 2,460.7% during the first quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock valued at $28,000 after purchasing an additional 689 shares during the period. GAMMA Investing LLC lifted its position in GXO Logistics by 57.0% during the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after purchasing an additional 302 shares during the period. Golden State Wealth Management LLC acquired a new position in GXO Logistics during the first quarter valued at $34,000. Quarry LP lifted its position in GXO Logistics by 1,334.9% during the fourth quarter. Quarry LP now owns 1,234 shares of the company’s stock valued at $54,000 after purchasing an additional 1,148 shares during the period. Finally, Covestor Ltd raised its position in shares of GXO Logistics by 63.2% in the first quarter. Covestor Ltd now owns 1,645 shares of the company’s stock worth $64,000 after acquiring an additional 637 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Stock Up 4.6%

Shares of NYSE GXO opened at $53.76 on Thursday. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33. The stock has a market cap of $6.15 billion, a PE ratio of 101.44, a P/E/G ratio of 1.86 and a beta of 1.64. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $48.77 and a 200 day moving average of $42.49.

GXO Logistics (NYSE:GXO) last posted its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. GXO Logistics’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. As a group, sell-side analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GXO. UBS Group upped their price objective on shares of GXO Logistics from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Citigroup upped their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Stifel Nicolaus upped their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Barclays upped their price objective on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Susquehanna boosted their target price on shares of GXO Logistics from $58.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, GXO Logistics currently has an average rating of “Moderate Buy” and an average price target of $59.50.

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.