Russell Investments Group Ltd. Increases Stake in GXO Logistics, Inc. (NYSE:GXO)

Russell Investments Group Ltd. boosted its position in GXO Logistics, Inc. (NYSE:GXO) by 16.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 423,059 shares of the company’s stock after acquiring an additional 59,366 shares during the quarter. Russell Investments Group Ltd. owned 0.23% of GXO Logistics worth $26,576,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in shares of GXO Logistics during the 1st quarter worth $39,000. Financial Management Professionals Inc. purchased a new stake in GXO Logistics during the 2nd quarter worth about $42,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of GXO Logistics by 44.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 881 shares of the company’s stock worth $44,000 after acquiring an additional 273 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of GXO Logistics by 58.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 870 shares of the company’s stock valued at $44,000 after acquiring an additional 320 shares during the last quarter. Finally, BOKF NA acquired a new stake in shares of GXO Logistics during the 1st quarter worth about $57,000. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Stock Up 0.4 %

Shares of NYSE GXO opened at $57.62 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $55.19 and a 200 day moving average price of $59.28. GXO Logistics, Inc. has a 52 week low of $40.21 and a 52 week high of $67.57. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 2.56 and a beta of 1.75.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.48 billion. GXO Logistics had a net margin of 2.09% and a return on equity of 11.76%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Equities research analysts anticipate that GXO Logistics, Inc. will post 2.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of GXO Logistics from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 16th. Wells Fargo & Company decreased their target price on GXO Logistics from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. Citigroup lifted their price target on GXO Logistics from $66.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. Morgan Stanley decreased their price target on shares of GXO Logistics from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, November 10th. Finally, Oppenheimer lowered their price target on GXO Logistics from $76.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.47.

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, 2022, it operated in approximately 979 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.