Envestnet Asset Management Inc. Acquires 3,914 Shares of GXO Logistics, Inc. $GXO

Envestnet Asset Management Inc. increased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO) by 6.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,797 shares of the company’s stock after purchasing an additional 3,914 shares during the period. Envestnet Asset Management Inc.’s holdings in GXO Logistics were worth $3,107,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. LPL Financial LLC boosted its position in shares of GXO Logistics by 23.7% during the 1st quarter. LPL Financial LLC now owns 72,279 shares of the company’s stock worth $2,629,000 after purchasing an additional 13,825 shares in the last quarter. William Blair Investment Management LLC increased its position in GXO Logistics by 52.3% in the 2nd quarter. William Blair Investment Management LLC now owns 530,999 shares of the company’s stock valued at $25,860,000 after buying an additional 182,338 shares in the last quarter. US Bancorp DE increased its position in GXO Logistics by 3.4% in the 2nd quarter. US Bancorp DE now owns 14,319 shares of the company’s stock valued at $697,000 after buying an additional 471 shares in the last quarter. Cetera Investment Advisers raised its stake in GXO Logistics by 11.6% during the 1st quarter. Cetera Investment Advisers now owns 11,547 shares of the company’s stock worth $451,000 after buying an additional 1,199 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in GXO Logistics by 34.0% in the second quarter. GAMMA Investing LLC now owns 1,115 shares of the company’s stock worth $54,000 after acquiring an additional 283 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Price Performance

GXO opened at $49.50 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 65.13, a P/E/G ratio of 2.03 and a beta of 1.64. The firm’s fifty day moving average price is $52.75 and its two-hundred day moving average price is $49.03. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $61.90.

GXO Logistics (NYSE:GXO) last announced its earnings results on Tuesday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.69% and a return on equity of 10.45%. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. GXO Logistics has set its FY 2025 guidance at 2.430-2.630 EPS. As a group, analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on GXO. Deutsche Bank Aktiengesellschaft upgraded GXO Logistics from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Thursday, November 6th. Truist Financial set a $65.00 price target on shares of GXO Logistics in a research note on Tuesday, October 14th. UBS Group upped their price objective on shares of GXO Logistics from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. The Goldman Sachs Group upgraded shares of GXO Logistics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $68.00 in a report on Wednesday, September 24th. Finally, Susquehanna reissued a “positive” rating and set a $64.00 target price on shares of GXO Logistics in a research report on Thursday, November 6th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.77.

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.