Douglas Lane & Associates LLC raised its stake in RXO, Inc. (NYSE:RXO - Free Report) by 34.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,591,040 shares of the company's stock after acquiring an additional 916,379 shares during the quarter. Douglas Lane & Associates LLC owned approximately 2.19% of RXO worth $68,589,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after purchasing an additional 2,009,937 shares in the last quarter. Norges Bank bought a new stake in shares of RXO during the fourth quarter worth $28,342,000. Franklin Resources Inc. lifted its stake in shares of RXO by 122.6% in the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock valued at $39,971,000 after acquiring an additional 923,307 shares during the last quarter. FIL Ltd lifted its stake in shares of 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 acquiring an additional 596,158 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of RXO by 185.5% during the 3rd quarter. Barclays PLC now owns 908,873 shares of the company's stock valued at $25,449,000 after acquiring an additional 590,530 shares in the last quarter. Institutional investors own 92.73% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on RXO in a research report on Friday, March 7th. They issued a "hold" rating and a $19.00 target price for the company. UBS Group dropped their price objective 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 boosted their target price on shares of RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Susquehanna dropped their price target on shares of RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research note on Wednesday, March 26th. Finally, Morgan Stanley reduced their price objective on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $20.00.
Read Our Latest Analysis on RXO
RXO Trading Up 0.2%
Shares of RXO stock traded up $0.04 during trading hours on Thursday, hitting $16.05. 501,706 shares of the company were exchanged, compared to its average volume of 1,542,754. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. RXO, Inc. has a fifty-two week low of $12.19 and a fifty-two week high of $32.82. The company has a 50 day simple moving average of $14.93 and a two-hundred day simple moving average of $20.75. The firm has a market cap of $2.63 billion, a P/E ratio of -7.57, a P/E/G ratio of 4.55 and a beta of 1.73.
RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The company's revenue for the quarter was up 57.0% compared to the same quarter last year. Equities analysts anticipate that RXO, Inc. will post 0.31 EPS for the current year.
RXO Profile
(
Free Report)
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.
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