Illinois Municipal Retirement Fund Acquires Shares of 105,108 Rxo Inc $RXO

Key Points

• Illinois Municipal Retirement Fund opened a new position in RXO during the first quarter, buying 105,108 shares worth about $1.54 million and ending with 0.06% ownership.
• Institutional interest remains heavy, with 92.73% of RXO shares held by hedge funds and other institutions; several firms recently increased their stakes significantly.
• Analysts are mixed but slightly constructive: RXO has an average “Hold” rating and a $23.57 price target, though some firms recently raised targets to as high as $30 and gave buy ratings.

Illinois Municipal Retirement Fund acquired a new stake in Rxo Inc (NYSE:RXO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 105,108 shares of the company's stock, valued at approximately $1,537,000. Illinois Municipal Retirement Fund owned 0.06% of RXO at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Orbis Allan Gray Ltd lifted its position in shares of RXO by 6.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company's stock worth $438,327,000 after buying an additional 2,104,597 shares during the period. Franklin Resources Inc. raised its stake in RXO by 91.2% during the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company's stock worth $35,818,000 after acquiring an additional 1,110,530 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in RXO during the fourth quarter worth $11,224,000. Wellington Management Group LLP lifted its holdings in shares of RXO by 7.9% during the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company's stock valued at $153,780,000 after acquiring an additional 735,810 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in shares of RXO during the fourth quarter valued at $9,098,000. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RXO shares. Truist Financial upped their target price on shares of RXO from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. TD Cowen lifted their price target on shares of RXO from $14.00 to $21.00 and gave the company a "hold" rating in a report on Friday, May 8th. The Goldman Sachs Group upped their price objective on shares of RXO from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Stifel Nicolaus raised their price objective on shares of RXO from $22.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Finally, Susquehanna lifted their target price on shares of RXO from $18.00 to $20.00 and gave the company a "negative" rating in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $23.57.

RXO Price Performance

Shares of RXO stock opened at $29.35 on Wednesday. The stock's fifty day moving average is $26.04 and its 200-day moving average is $19.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a market capitalization of $4.84 billion, a PE ratio of -48.12 and a beta of 2.03. Rxo Inc has a 52 week low of $10.43 and a 52 week high of $29.90.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.09). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Equities research analysts expect that Rxo Inc will post 0.07 EPS for the current fiscal year.

About RXO

RXO Inc NYSE: RXO is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.

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