Aviva PLC Buys New Position in RXO, Inc. (NYSE:RXO)

Posted by on May 23rd, 2023

Aviva PLC bought a new stake in shares of RXO, Inc. (NYSE:RXO – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,478 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Douglas Lane & Associates LLC purchased a new position in shares of RXO in the 4th quarter valued at about $14,372,000. Retirement Systems of Alabama purchased a new position in shares of RXO in the 4th quarter valued at about $7,701,000. Rice Hall James & Associates LLC purchased a new position in shares of RXO in the 4th quarter valued at about $7,090,000. Arnhold LLC purchased a new position in shares of RXO in the 4th quarter valued at about $6,360,000. Finally, Swiss National Bank purchased a new position in shares of RXO in the 4th quarter valued at about $4,298,000. 9.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RXO has been the subject of several recent research reports. Cowen initiated coverage on RXO in a research note on Monday, February 27th. They issued a “market perform” rating and a $22.00 price objective for the company. Benchmark began coverage on RXO in a research report on Tuesday, April 4th. They set a “hold” rating on the stock. Cowen began coverage on RXO in a research note on Monday, February 27th. They set a “market perform” rating and a $22.00 target price for the company. Stephens restated an “equal weight” rating and set a $20.00 target price on shares of RXO in a research note on Wednesday, February 8th. Finally, UBS Group boosted their target price on RXO from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Twelve equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.62.

RXO Trading Up 0.3 %

Shares of NYSE RXO opened at $19.99 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.77. RXO, Inc. has a twelve month low of $14.75 and a twelve month high of $25.50. The stock has a 50 day moving average of $19.01 and a two-hundred day moving average of $18.62.

RXO (NYSE:RXO – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.07 billion. The business’s revenue was down 22.9% compared to the same quarter last year. On average, research analysts expect that RXO, Inc. will post 0.65 EPS for the current fiscal year.

About RXO

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RXO, Inc provides full truckload freight transportation brokering services through its proprietary digital marketplace in North America. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was founded in 2022 and is based in Charlotte, North Carolina.

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Institutional Ownership by Quarter for RXO (NYSE:RXO)

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