TD Asset Management Inc Purchases Shares of 99,828 RXO INC (NYSE:RXO)

Key Points

• TD Asset Management Inc acquired 99,828 shares of Rxo Inc (NYSE:RXO) during the first quarter, valued at approximately $1.9 million, increasing its ownership to 0.06% of the company.
• Multiple hedge funds, including Victory Capital Management Inc and Tectonic Advisors LLC, have also increased their stakes in RXO, reflecting a growing interest among institutional investors.
• RXO recently reported a quarterly loss of $0.03 EPS, missing expectations, with revenue of $1.43 billion, up 57% year-over-year but below analyst forecasts.

TD Asset Management Inc purchased a new position in shares of RXO INC (NYSE:RXO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 99,828 shares of the company's stock, valued at approximately $1,907,000. TD Asset Management Inc owned about 0.06% of RXO as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FIL Ltd increased its stake in RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company's stock valued at $150,857,000 after purchasing an additional 596,158 shares in the last quarter. Douglas Lane & Associates LLC raised its position in shares of RXO by 34.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company's stock worth $68,589,000 after purchasing an additional 916,379 shares during the last quarter. Geode Capital Management LLC lifted its stake in RXO by 10.1% in the 4th 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 in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in RXO by 15.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company's stock valued at $52,155,000 after buying an additional 355,255 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in RXO by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,024,887 shares of the company's stock worth $48,275,000 after buying an additional 128,819 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group lowered their price target on shares of RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Bank of America increased their price objective on shares of RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. JPMorgan Chase & Co. dropped their price target on RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a research note on Tuesday, July 8th. Truist Financial reduced their price objective on RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on shares of RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $18.87.

RXO Stock Performance

Shares of NYSE:RXO traded down $0.07 on Wednesday, hitting $15.41. The company's stock had a trading volume of 1,848,224 shares, compared to its average volume of 1,598,205. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 140.73, a price-to-earnings-growth ratio of 7.66 and a beta of 1.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30. RXO INC has a 12 month low of $12.19 and a 12 month high of $31.98. The stock's 50-day moving average is $16.13 and its two-hundred day moving average is $17.53.

RXO (NYSE:RXO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business posted ($0.03) EPS. The firm's quarterly revenue was up 57.0% on a year-over-year basis. On average, equities research analysts forecast that RXO INC will post 0.31 EPS 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.