Carnegie Investment Counsel Cuts Stake in GXO Logistics, Inc. (NYSE:GXO)

Carnegie Investment Counsel decreased its holdings in GXO Logistics, Inc. (NYSE:GXO) by 35.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,762 shares of the company’s stock after selling 61,668 shares during the period. Carnegie Investment Counsel owned approximately 0.09% of GXO Logistics worth $4,818,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GXO. DekaBank Deutsche Girozentrale purchased a new stake in shares of GXO Logistics in the 3rd quarter valued at $28,000. UMB Bank n.a. boosted its position in GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after buying an additional 331 shares during the period. Signaturefd LLC boosted its position in GXO Logistics by 37.2% during the 3rd quarter. Signaturefd LLC now owns 918 shares of the company’s stock valued at $48,000 after buying an additional 249 shares during the period. Hara Capital LLC purchased a new stake in GXO Logistics during the 3rd quarter valued at $50,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in GXO Logistics by 37.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $54,000 after buying an additional 282 shares during the period. Hedge funds and other institutional investors own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GXO. Oppenheimer increased their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays dropped their price target on shares of GXO Logistics from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 4th. Susquehanna dropped their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. TD Cowen upped their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup assumed coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.38.

GXO Logistics Stock Down 0.9 %

Shares of GXO Logistics stock opened at $43.98 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average of $50.21 and a 200 day moving average of $52.03. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 48.86, a PEG ratio of 1.10 and a beta of 1.60. GXO Logistics, Inc. has a 1 year low of $41.38 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. GXO Logistics’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. As a group, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.74 earnings per share for the current fiscal year.

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.