Concorde Asset Management LLC Makes New Investment in GXO Logistics, Inc. (NYSE:GXO)

Concorde Asset Management LLC acquired a new stake in GXO Logistics, Inc. (NYSE:GXO) in the 4th quarter, Holdings Channel.com reports. The fund acquired 16,598 shares of the company’s stock, valued at approximately $722,000.

A number of other large investors have also bought and sold shares of the business. Quinn Opportunity Partners LLC acquired a new position in GXO Logistics in the 4th quarter worth $783,000. Kennedy Capital Management LLC boosted its position in shares of GXO Logistics by 10.4% during the fourth quarter. Kennedy Capital Management LLC now owns 104,679 shares of the company’s stock worth $4,554,000 after buying an additional 9,838 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of GXO Logistics by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company’s stock worth $2,245,000 after buying an additional 330 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of GXO Logistics in the fourth quarter valued at approximately $20,905,000. Finally, FIL Ltd lifted its position in shares of GXO Logistics by 53.3% in the fourth quarter. FIL Ltd now owns 338,548 shares of the company’s stock worth $14,727,000 after purchasing an additional 117,673 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GXO has been the topic of several recent research reports. UBS Group lowered their price target on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Oppenheimer lowered their target price on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley reduced their price target on GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Citigroup lowered their price target on GXO Logistics from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price objective (down previously from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, GXO Logistics has an average rating of “Moderate Buy” and a consensus price target of $54.93.

GXO Logistics Price Performance

NYSE:GXO opened at $33.71 on Friday. The firm’s fifty day moving average price is $39.19 and its two-hundred day moving average price is $47.66. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The company has a market cap of $4.03 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $63.33.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Equities analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.