DnB Asset Management AS Acquires 19,939 Shares of GXO Logistics, Inc. (NYSE:GXO)

DnB Asset Management AS raised its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 221.1% in the 4th quarter, HoldingsChannel reports. The firm owned 28,957 shares of the company’s stock after purchasing an additional 19,939 shares during the period. DnB Asset Management AS’s holdings in GXO Logistics were worth $1,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GXO. Norges Bank purchased a new position in GXO Logistics in the fourth quarter worth $55,266,000. Vaughan Nelson Investment Management L.P. bought a new stake in GXO Logistics during the fourth quarter worth about $47,626,000. River Road Asset Management LLC boosted its holdings in shares of GXO Logistics by 53.5% in the 4th quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company’s stock worth $87,355,000 after purchasing an additional 699,636 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of GXO Logistics during the 4th quarter valued at about $20,905,000. Finally, Life Planning Partners Inc grew its position in GXO Logistics by 4,250.0% during the fourth quarter. Life Planning Partners Inc now owns 263,393 shares of the company’s stock valued at $11,458,000 after acquiring an additional 257,338 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Performance

GXO Logistics stock opened at $39.39 on Wednesday. GXO Logistics, Inc. has a fifty-two week low of $34.51 and a fifty-two week high of $63.33. The stock’s 50 day simple moving average is $41.10 and its two-hundred day simple moving average is $48.68. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GXO. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. UBS Group reduced their price objective on GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on GXO Logistics in a report on Friday, March 7th. They set a “hold” rating and a $45.00 target price for the company. Loop Capital downgraded GXO Logistics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.00.

GXO Logistics 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.