Cambridge Investment Research Advisors Inc. Lowers Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Cambridge Investment Research Advisors Inc. lowered its position in GXO Logistics, Inc. (NYSE:GXO) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,342 shares of the company’s stock after selling 1,259 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in GXO Logistics were worth $1,734,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GXO. Smithfield Trust Co increased its holdings in GXO Logistics by 16.5% during 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 last quarter. Blue Zone Wealth Advisors LLC increased its holdings in GXO Logistics by 0.5% during the first quarter. Blue Zone Wealth Advisors LLC now owns 46,898 shares of the company’s stock worth $2,521,000 after buying an additional 229 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in GXO Logistics by 6.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,477 shares of the company’s stock worth $274,000 after buying an additional 258 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in GXO Logistics by 0.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 44,570 shares of the company’s stock worth $2,251,000 after buying an additional 262 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in GXO Logistics by 16.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,988 shares of the company’s stock worth $122,000 after buying an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Trading Up 1.4 %

Shares of GXO opened at $50.05 on Tuesday. The firm’s 50 day simple moving average is $50.63 and its 200 day simple moving average is $50.71. The company has a market capitalization of $5.98 billion, a P/E ratio of 36.01, a P/E/G ratio of 1.50 and a beta of 1.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics, Inc. has a 1-year low of $46.07 and a 1-year high of $65.48.

GXO Logistics (NYSE:GXO) last announced its 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). The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. Sell-side analysts forecast that GXO Logistics, Inc. will post 2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GXO Logistics news, CEO Malcolm Wilson purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $49.95 per share, with a total value of $499,500.00. Following the completion of the purchase, the chief executive officer now owns 100,814 shares of the company’s stock, valued at approximately $5,035,659.30. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

GXO has been the subject of a number of research analyst reports. Morgan Stanley restated an “overweight” rating and set a $70.00 price objective on shares of GXO Logistics in a report on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Wells Fargo & Company initiated coverage on shares of GXO Logistics in a research report on Friday, June 7th. They set an “overweight” rating and a $58.00 target price for the company. TD Cowen raised their price objective on shares of GXO Logistics from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $74.00 price objective on shares of GXO Logistics in a research report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.45.

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.