Tritonpoint Wealth LLC Reduces Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Tritonpoint Wealth LLC reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 28.6% during the first quarter, Holdings Channel reports. The institutional investor owned 53,820 shares of the company’s stock after selling 21,561 shares during the period. Tritonpoint Wealth LLC’s holdings in GXO Logistics were worth $2,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GXO. Arizona State Retirement System raised its stake in GXO Logistics by 0.8% during the 4th quarter. Arizona State Retirement System now owns 34,671 shares of the company’s stock valued at $1,508,000 after purchasing an additional 281 shares during the period. GAMMA Investing LLC lifted its holdings in shares of GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company’s stock worth $33,000 after acquiring an additional 302 shares during the last quarter. Treasurer of the State of North Carolina boosted its position 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 valued at $2,245,000 after buying an additional 330 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in GXO Logistics by 33.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company’s stock valued at $60,000 after acquiring an additional 348 shares during the period. Finally, Belpointe Asset Management LLC grew its holdings in shares of GXO Logistics by 8.9% in the fourth quarter. Belpointe Asset Management LLC now owns 5,728 shares of the company’s stock worth $249,000 after purchasing an additional 470 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GXO shares. UBS Group decreased their target price on GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Wells Fargo & Company dropped their target price on GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Truist Financial cut their price target on shares of GXO Logistics from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, April 24th. Oppenheimer decreased their target price on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, February 18th. Finally, Morgan Stanley lowered their price target on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.57.

GXO Logistics Price Performance

NYSE:GXO opened at $42.94 on Friday. The stock has a 50 day moving average of $38.56 and a two-hundred day moving average of $41.67. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market cap of $4.91 billion, a P/E ratio of 38.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.59.

GXO Logistics (NYSE:GXO) last released its earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.94 billion. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. The business’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the company posted $0.45 EPS. On average, analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

GXO Logistics 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.