Harel Insurance Investments & Financial Services Ltd. Reduces Stake in GXO Logistics, Inc.
Harel Insurance Investments & Financial Services Ltd. has decreased its investment in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.8% during the fourth quarter. This reduction was disclosed in a recent 13F filing with the SEC. The firm now holds 448,472 shares of the company following the sale of 12,725 shares in the quarter. As per the latest filing, Harel Insurance Investments & Financial Services Ltd. owns approximately 0.38% of GXO Logistics valued at $19,509,000.
Recent Institutional Holdings Changes
Several other institutional investors have also altered their positions in GXO Logistics recently. DekaBank Deutsche Girozentrale has initiated a new position in GXO Logistics during the third quarter, worth around $28,000. UMB Bank n.a. increased its holdings by 111.4% and now owns 628 shares valued at approximately $33,000 after acquiring an additional 331 shares. Similarly, Signaturefd LLC raised its stake by 37.2%, bringing its total to 918 shares worth about $48,000 after acquiring 249 additional shares. Hara Capital LLC also entered a new position in GXO Logistics estimated at around $50,000. Additionally, Whittier Trust Co. of Nevada Inc. enhanced its holdings by 37.6%, now owning 1,032 shares valued at $54,000 following a purchase of 282 shares. Overall, around 90.67% of GXO Logistics shares are currently held by institutional investors.
Analyst Opinions on GXO Logistics
A number of financial analysts have offered insights regarding GXO. Citigroup initiated coverage on GXO Logistics on October 9th, providing a "buy" rating and setting a price target of $60.00. TD Cowen raised their price target from $82.00 to $83.00 while assigning a "buy" rating in a report dated November 6th. On the same date, UBS Group increased its target price from $66.00 to $72.00, also giving it a "buy" rating. However, Goldman Sachs Group cut its price target from $63.00 to $54.00 and rated the stock as "neutral" in their note dated January 16th. Oppenheimer later adjusted their target price from $63.00 to $67.00, affirming an "outperform" rating as of November 27th. Currently, three analysts have a hold rating for the stock, while ten have rated it as a buy. According to MarketBeat, the consensus rating for GXO Logistics stands at "Moderate Buy" with an average target price of $65.38.
Performance of GXO Logistics Shares
On Friday, GXO Logistics shares opened at $45.19. The company has recorded a 1-year low of $41.38 and a high of $63.33. Its market capitalization is $5.40 billion, with a P/E ratio of 50.21 and a P/E/G ratio of 1.23. The company's shares have a beta of 1.60. As for its moving averages, the 50-day moving average is noted at $48.72, while the 200-day moving average stands at $51.88. The debt-to-equity ratio is at 0.81, with a current ratio and quick ratio both at 0.86.
Most Recent Earnings Announcement
GXO Logistics last reported its earnings on November 4th. The company achieved earnings per share (EPS) of $0.79, slightly beating the analysts' expected EPS of $0.78 by $0.01. During this quarter, GXO Logistics generated revenue of $3.16 billion, exceeding the anticipated $3.01 billion. The firm reported a return on equity of 10.03% with a net profit margin of 0.97%. This year's revenue marked a significant increase of 27.8% compared to the same quarter of the previous year. Analysts anticipate that for the current year, GXO Logistics will report earnings of 2.73 EPS.
About GXO Logistics
GXO Logistics, Inc., through its subsidiaries, is a global provider of logistics services. The company specializes in warehousing and distribution, order fulfillment, e-commerce, reverse logistics, and various other supply chain services. As of December 31, 2023, GXO operated approximately 974 facilities worldwide and serves a diverse array of clients in sectors such as e-commerce, retail, technology, food and beverage, and manufacturing.
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