Envestnet Portfolio Solutions Inc. Makes New $611,000 Investment in GXO Logistics, Inc. $GXO

Envestnet Portfolio Solutions Inc. bought a new stake in shares of GXO Logistics, Inc. (NYSE:GXO) during the second quarter, Holdings Channel.com reports. The fund bought 12,553 shares of the company’s stock, valued at approximately $611,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in GXO Logistics by 2,460.7% during the first quarter. Larson Financial Group LLC now owns 717 shares of the company’s stock worth $28,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC increased its position in shares of GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of GXO Logistics during the 1st quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. grew its stake in GXO Logistics by 72.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company’s stock valued at $37,000 after acquiring an additional 396 shares during the period. Finally, Covestor Ltd increased its holdings in GXO Logistics by 63.2% in the 1st quarter. Covestor Ltd now owns 1,645 shares of the company’s stock worth $64,000 after acquiring an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

GXO Logistics Price Performance

GXO Logistics stock opened at $54.88 on Tuesday. The company has a fifty day simple moving average of $52.58 and a 200-day simple moving average of $46.54. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 103.55, a PEG ratio of 2.25 and a beta of 1.64. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.19.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. On average, equities analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on GXO. Citigroup boosted their price target on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Truist Financial set a $65.00 price target on shares of GXO Logistics in a report on Tuesday, October 14th. UBS Group boosted their price target 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. Wells Fargo & Company boosted their price target on shares of GXO Logistics from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group raised shares of GXO Logistics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $68.00 in a report on Wednesday, September 24th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus target price of $61.57.

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.