GXO Logistics, Inc. (NYSE:GXO) Stake Reduced by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its position in GXO Logistics, Inc. (NYSE:GXO – Get Rating) by 31.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 774 shares of the company’s stock after selling 361 shares during the quarter. First Horizon Advisors Inc.’s holdings in GXO Logistics were worth $26,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Comerica Bank increased its position in GXO Logistics by 14.0% in the 3rd quarter. Comerica Bank now owns 53,725 shares of the company’s stock worth $1,784,000 after purchasing an additional 6,597 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in shares of GXO Logistics in the 2nd quarter worth approximately $3,681,000. Securian Asset Management Inc. raised its holdings in shares of GXO Logistics by 4.9% in the 2nd quarter. Securian Asset Management Inc. now owns 9,276 shares of the company’s stock worth $401,000 after buying an additional 436 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of GXO Logistics by 17.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 8,129 shares of the company’s stock worth $352,000 after buying an additional 1,181 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of GXO Logistics by 13.1% in the 2nd quarter. Rhumbline Advisers now owns 285,522 shares of the company’s stock worth $12,355,000 after buying an additional 32,990 shares in the last quarter. Institutional investors and hedge funds own 99.47% of the company’s stock.

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GXO Logistics Stock Down 0.3 %

NYSE:GXO opened at $53.19 on Wednesday. GXO Logistics, Inc. has a 12-month low of $32.10 and a 12-month high of $88.05. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $6.31 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.80 and a beta of 1.70. The stock’s fifty day simple moving average is $48.36 and its 200-day simple moving average is $44.11.

Wall Street Analysts Forecast Growth

GXO has been the subject of a number of recent analyst reports. BNP Paribas cut GXO Logistics from a “neutral” rating to an “underperform” rating and set a $40.00 price target for the company. in a report on Thursday, February 2nd. Susquehanna Bancshares dropped their price target on GXO Logistics from $55.00 to $54.00 in a report on Thursday, November 10th. Credit Suisse Group raised their price target on GXO Logistics from $57.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Morgan Stanley raised their price target on GXO Logistics from $60.00 to $66.00 in a report on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on GXO Logistics from $53.00 to $62.00 and gave the company a “buy” rating in a report on Friday, January 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Transactions at GXO Logistics

In other news, Director Gena L. Ashe sold 2,120 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $52.73, for a total value of $111,787.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Malcolm Wilson purchased 4,174 shares of GXO Logistics stock in a transaction dated Friday, November 25th. The shares were acquired at an average cost of $43.97 per share, for a total transaction of $183,530.78. Following the transaction, the chief executive officer now directly owns 45,509 shares of the company’s stock, valued at $2,001,030.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gena L. Ashe sold 2,120 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $52.73, for a total value of $111,787.60. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.

About GXO Logistics

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GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, and other supply chain services, as well as reverse logistics or returns management services. As of December 31, 2021, it operated in approximately 906 facilities.

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