Summit Securities Group LLC Purchases 897 Shares of GXO Logistics, Inc. (NYSE:GXO)

Summit Securities Group LLC grew its position in GXO Logistics, Inc. (NYSE:GXO) by 870.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,000 shares of the company’s stock after buying an additional 897 shares during the period. Summit Securities Group LLC’s holdings in GXO Logistics were worth $44,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GXO. Brown Brothers Harriman & Co. increased its position in GXO Logistics by 4.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,006,623 shares of the company’s stock worth $43,788,000 after purchasing an additional 38,356 shares during the period. DnB Asset Management AS boosted its stake in shares of GXO Logistics by 221.1% in the 4th quarter. DnB Asset Management AS now owns 28,957 shares of the company’s stock valued at $1,260,000 after purchasing an additional 19,939 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of GXO Logistics by 14.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 20,273 shares of the company’s stock worth $882,000 after buying an additional 2,536 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of GXO Logistics during the fourth quarter worth approximately $295,000. Finally, Norges Bank acquired a new position in GXO Logistics in the fourth quarter valued at approximately $55,266,000. Institutional investors own 90.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on GXO. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a report on Friday, March 7th. They set a “hold” rating and a $45.00 target price for the company. Barclays dropped their price objective on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. UBS Group reduced their target price on GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Oppenheimer lowered their price target on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $66.00 price objective (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

GXO Logistics Stock Down 1.8 %

Shares of GXO stock opened at $39.33 on Monday. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 1.34 and a beta of 1.62. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The firm has a fifty day moving average of $41.31 and a 200-day moving average of $48.83.

GXO Logistics (NYSE:GXO) last released its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, beating 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, equities research analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

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.