GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in GXO Logistics, Inc. (NYSE:GXO) by 23.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 17,344 shares of the company’s stock after selling 5,206 shares during the period. Truist Financial Corp’s holdings in GXO Logistics were worth $876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. grew its stake in GXO Logistics by 170.7% in the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company’s stock worth $60,000 after acquiring an additional 700 shares during the period. Allspring Global Investments Holdings LLC increased its stake in GXO Logistics by 920.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company’s stock valued at $64,000 after purchasing an additional 1,151 shares during the last quarter. Motco lifted its position in GXO Logistics by 2,836.4% during the first quarter. Motco now owns 1,292 shares of the company’s stock worth $69,000 after buying an additional 1,248 shares during the period. Smithfield Trust Co boosted its stake in GXO Logistics by 16.5% in the 1st 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. Finally, LRI Investments LLC purchased a new stake in GXO Logistics in the 1st quarter valued at about $80,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

GXO Logistics stock opened at $62.23 on Tuesday. The firm has a market capitalization of $7.43 billion, a PE ratio of 44.77, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59. The stock’s 50 day moving average price is $50.22 and its 200 day moving average price is $50.73. GXO Logistics, Inc. has a one year low of $46.07 and a one year high of $63.07. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86.

GXO Logistics (NYSE:GXO) last released 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). The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. GXO Logistics’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GXO. JPMorgan Chase & Co. raised 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. Citigroup started coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. UBS Group reduced their price objective on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Susquehanna decreased their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, GXO Logistics has an average rating of “Moderate Buy” and a consensus target price of $66.91.

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.