Louisiana State Employees Retirement System raised its position in shares of RXO, Inc. (NYSE:RXO – Free Report) by 13.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,400 shares of the company’s stock after purchasing an additional 7,100 shares during the quarter. Louisiana State Employees Retirement System owned 0.05% of RXO worth $1,392,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in RXO. WASHINGTON TRUST Co purchased a new position in shares of RXO in the first quarter worth $26,000. Bessemer Group Inc. purchased a new position in shares of RXO in the fourth quarter worth $26,000. Tilia Fiduciary Partners Inc. bought a new stake in RXO in the first quarter worth $30,000. City Holding Co. increased its position in RXO by 752.2% in the first quarter. City Holding Co. now owns 1,960 shares of the company’s stock worth $38,000 after purchasing an additional 1,730 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in RXO in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.
Analyst Ratings Changes
RXO has been the topic of several research reports. Morgan Stanley reduced their price target on shares of RXO from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday. Oppenheimer reiterated an “outperform” rating and set a $24.00 price objective on shares of RXO in a research report on Monday, August 7th. Stephens cut their price objective on shares of RXO from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 3rd. Wolfe Research cut shares of RXO from a “peer perform” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a research report on Wednesday, July 12th. Finally, Susquehanna cut their price objective on shares of RXO from $14.00 to $13.00 and set a “negative” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus target price of $21.00.
Insider Buying and Selling at RXO
In other news, Director Thomas A. Szlosek purchased 11,186 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was acquired at an average cost of $17.92 per share, with a total value of $200,453.12. Following the completion of the transaction, the director now owns 13,034 shares in the company, valued at approximately $233,569.28. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.
RXO Stock Down 3.5 %
NYSE:RXO opened at $18.82 on Wednesday. RXO, Inc. has a 1-year low of $14.75 and a 1-year high of $25.50. The company has a 50-day moving average of $19.13 and a 200 day moving average of $19.87. The firm has a market cap of $2.20 billion and a PE ratio of 171.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.31 and a quick ratio of 1.31.
RXO (NYSE:RXO – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. RXO had a net margin of 0.28% and a return on equity of 9.50%. The company had revenue of $963.00 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was down 21.5% compared to the same quarter last year. As a group, research analysts anticipate that RXO, Inc. will post 0.28 EPS for the current fiscal year.
About RXO
RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded in 2022 and is based in Charlotte, North Carolina.
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