GXO Logistics, Inc. (NYSE:GXO) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 14.3% during the fourth quarter, HoldingsChannel reports. The fund owned 20,273 shares of the company’s stock after buying an additional 2,536 shares during the period. Pictet Asset Management Holding SA’s holdings in GXO Logistics were worth $882,000 at the end of the most recent reporting period.

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

GXO Logistics Stock Down 5.7 %

Shares of NYSE GXO opened at $34.23 on Monday. The firm’s 50 day moving average price is $40.61 and its 200 day moving average price is $48.37. 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 firm has a market cap of $4.09 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 1 year low of $32.70 and a 1 year high of $63.33.

GXO Logistics (NYSE:GXO) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price objective on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price target (down previously from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GXO Logistics in a research report on Friday, March 7th. They issued a “hold” rating and a $45.00 price objective on the stock. Truist Financial initiated coverage on shares of GXO Logistics in a report on Thursday, March 13th. They set a “hold” rating and a $40.00 target price for the company. Finally, Barclays reduced their price target on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics currently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

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.