Exchange Traded Concepts LLC Sells 29,811 Shares of GXO Logistics, Inc. (NYSE:GXO)

Exchange Traded Concepts LLC lowered its holdings in GXO Logistics, Inc. (NYSE:GXO) by 12.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 218,233 shares of the company’s stock after selling 29,811 shares during the quarter. Exchange Traded Concepts LLC’s holdings in GXO Logistics were worth $11,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Reinhart Partners LLC. lifted its holdings in GXO Logistics by 7.1% during the 3rd quarter. Reinhart Partners LLC. now owns 608,694 shares of the company’s stock worth $31,695,000 after purchasing an additional 40,289 shares in the last quarter. UMB Bank n.a. increased its position in shares of GXO Logistics by 111.4% during the third quarter. UMB Bank n.a. now owns 628 shares of the company’s stock valued at $33,000 after buying an additional 331 shares during the period. CWM LLC lifted its holdings in shares of GXO Logistics by 13.8% in the third quarter. CWM LLC now owns 1,961 shares of the company’s stock worth $102,000 after buying an additional 238 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in shares of GXO Logistics by 37.3% in the third quarter. Daymark Wealth Partners LLC now owns 8,396 shares of the company’s stock valued at $437,000 after acquiring an additional 2,282 shares during the period. Finally, Atomi Financial Group Inc. purchased a new position in GXO Logistics during the third quarter valued at approximately $209,000. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Price Performance

Shares of GXO Logistics stock opened at $61.98 on Friday. The firm has a market capitalization of $7.40 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a 12 month low of $46.07 and a 12 month high of $63.07. The business’s 50-day moving average price is $49.96 and its 200-day moving average price is $50.69.

GXO Logistics (NYSE:GXO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.73 billion. GXO Logistics had a net margin of 1.35% and a return on equity of 9.86%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Sell-side analysts forecast that GXO Logistics, Inc. will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GXO shares. Susquehanna cut their price target on shares of GXO Logistics from $75.00 to $73.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Citigroup began coverage on GXO Logistics in a research note on Wednesday. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, UBS Group lowered their price target on GXO Logistics from $71.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.91.

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.