Charles Schwab Investment Management Inc. Decreases Stock Holdings in Rxo Inc $RXO

Charles Schwab Investment Management Inc. decreased its position in Rxo Inc (NYSE:RXO - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,093,420 shares of the company's stock after selling 51,613 shares during the period. Charles Schwab Investment Management Inc. owned about 1.28% of RXO worth $39,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of RXO by 3.4% in the first quarter. Principal Financial Group Inc. now owns 707,430 shares of the company's stock valued at $13,512,000 after purchasing an additional 23,160 shares during the period. New York State Teachers Retirement System lifted its stake in shares of RXO by 1.8% in the first quarter. New York State Teachers Retirement System now owns 115,904 shares of the company's stock valued at $2,214,000 after purchasing an additional 2,000 shares during the period. GAMMA Investing LLC lifted its stake in shares of RXO by 1,728.8% in the first quarter. GAMMA Investing LLC now owns 36,997 shares of the company's stock valued at $707,000 after purchasing an additional 34,974 shares during the period. SG Americas Securities LLC lifted its stake in shares of RXO by 251.2% in the first quarter. SG Americas Securities LLC now owns 51,761 shares of the company's stock valued at $989,000 after purchasing an additional 37,024 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of RXO in the fourth quarter valued at about $3,738,000. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

RXO has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of RXO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Bank of America lifted their target price on shares of RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their target price on shares of RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a research report on Tuesday, July 8th. Morgan Stanley cut their target price on shares of RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Finally, The Goldman Sachs Group lowered their price target on shares of RXO from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $17.93.

RXO Trading Up 10.8%

Shares of NYSE RXO traded up $1.5850 during midday trading on Friday, reaching $16.2850. 390,206 shares of the stock were exchanged, compared to its average volume of 1,614,953. The company has a market capitalization of $2.67 billion, a P/E ratio of -7.46, a P/E/G ratio of 6.88 and a beta of 1.68. Rxo Inc has a 52-week low of $12.19 and a 52-week high of $31.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $15.90 and a 200-day moving average price of $16.69.

RXO (NYSE:RXO - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $0.03 earnings per share. RXO's revenue was up 52.6% compared to the same quarter last year. Equities research analysts expect that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

RXO 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.