Comerica Bank Acquires 61,765 Shares of RXO, Inc. (NYSE:RXO)

Comerica Bank raised its holdings in RXO, Inc. (NYSE:RXO - Free Report) by 41.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 211,963 shares of the company's stock after buying an additional 61,765 shares during the quarter. Comerica Bank owned 0.13% of RXO worth $5,053,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in RXO by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock valued at $410,137,000 after buying an additional 2,009,937 shares during the period. FIL Ltd lifted its stake in RXO by 10.4% in the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company's stock valued at $150,857,000 after buying an additional 596,158 shares during the period. Geode Capital Management LLC lifted its stake in RXO by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company's stock valued at $80,185,000 after buying an additional 307,492 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in RXO by 27.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company's stock valued at $56,629,000 after buying an additional 508,330 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in RXO by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company's stock valued at $51,138,000 after buying an additional 76,653 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RXO shares. Jefferies Financial Group dropped their price target on RXO from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Benchmark restated a "hold" rating on shares of RXO in a report on Wednesday, January 15th. Citigroup decreased their price objective on RXO from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus decreased their price objective on RXO from $24.00 to $14.00 and set a "hold" rating for the company in a report on Thursday. Finally, Susquehanna decreased their price objective on RXO from $18.00 to $13.00 and set a "negative" rating for the company in a report on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.93.

RXO Stock Up 0.4%

RXO stock traded up $0.06 during trading on Friday, hitting $14.49. 2,479,566 shares of the company were exchanged, compared to its average volume of 1,204,670. The business's 50 day moving average is $16.00 and its 200 day moving average is $22.22. RXO, Inc. has a 52 week low of $12.19 and a 52 week high of $32.82. The company has a market capitalization of $2.38 billion, a P/E ratio of -6.83, a PEG ratio of 4.55 and a beta of 1.71. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company posted ($0.03) EPS. The company's quarterly revenue was up 57.0% compared to the same quarter last year. Analysts predict that RXO, Inc. will post 0.31 earnings per share for the current year.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.