Pinnacle Associates Ltd. Increases Stake in GXO Logistics, Inc. (NYSE:GXO)

Pinnacle Associates Ltd. raised its position in GXO Logistics, Inc. (NYSE:GXO - Get Rating) by 68.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 10,575 shares of the company's stock after purchasing an additional 4,300 shares during the period. Pinnacle Associates Ltd.'s holdings in GXO Logistics were worth $371,000 at the end of the most recent quarter.

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A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GXO. Mutual of America Capital Management LLC acquired a new stake in shares of GXO Logistics in the 2nd quarter worth $3,681,000. Securian Asset Management Inc. increased its stake in shares of GXO Logistics by 4.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,276 shares of the company's stock worth $401,000 after acquiring an additional 436 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of GXO Logistics by 17.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 8,129 shares of the company's stock worth $352,000 after acquiring an additional 1,181 shares during the last quarter. Rhumbline Advisers increased its stake in shares of GXO Logistics by 13.1% in the 2nd quarter. Rhumbline Advisers now owns 285,522 shares of the company's stock worth $12,355,000 after acquiring an additional 32,990 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in shares of GXO Logistics by 15.6% in the 3rd quarter. New Mexico Educational Retirement Board now owns 18,500 shares of the company's stock worth $649,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 99.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GXO shares. Loop Capital raised their price objective on GXO Logistics from $67.00 to $74.00 in a research report on Friday, January 13th. Credit Suisse Group raised their price objective on GXO Logistics from $57.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, January 13th. Deutsche Bank Aktiengesellschaft raised their price objective on GXO Logistics from $53.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, January 13th. Cowen cut their price objective on GXO Logistics from $67.00 to $62.00 and set an "outperform" rating for the company in a research report on Tuesday, September 27th. Finally, Wells Fargo & Company raised their price objective on GXO Logistics from $58.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, January 13th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, GXO Logistics has an average rating of "Moderate Buy" and a consensus price target of $63.50.

Insider Activity

In related news, CEO Malcolm Wilson acquired 4,174 shares of the firm's stock in a transaction dated Friday, November 25th. The stock was acquired at an average price of $43.97 per share, for a total transaction of $183,530.78. Following the purchase, the chief executive officer now owns 45,509 shares of the company's stock, valued at approximately $2,001,030.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.10% of the company's stock.

GXO Logistics Stock Performance

NYSE GXO opened at $52.54 on Wednesday. The stock has a 50-day moving average of $44.53 and a two-hundred day moving average of $42.67. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $6.23 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.86 and a beta of 1.54. GXO Logistics, Inc. has a 1-year low of $32.10 and a 1-year high of $90.93.

GXO Logistics (NYSE:GXO - Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.29 billion. GXO Logistics had a return on equity of 12.90% and a net margin of 2.36%. As a group, analysts anticipate that GXO Logistics, Inc. will post 2.76 EPS for the current year.

GXO Logistics Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.

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