Invesco Ltd. Has $14.42 Million Stock Position in Rxo Inc $RXO

Key Points

• Invesco Ltd. has increased its holdings in RXO Inc by 19.0%, owning 754,778 shares worth approximately $14.4 million following the purchase of 120,275 additional shares in Q1.
• Several other institutional investors have also boosted their positions in RXO, with Wells Fargo leading with a 46.6% increase in the fourth quarter.
• Analysts have mixed ratings on RXO, with a consensus rating of "Hold" and a price target averaging at $17.93, following a recent revision by firms like Goldman Sachs and Morgan Stanley.

Invesco Ltd. lifted its stake in Rxo Inc (NYSE:RXO - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 754,778 shares of the company's stock after acquiring an additional 120,275 shares during the period. Invesco Ltd. owned approximately 0.46% of RXO worth $14,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Douglas Lane & Associates LLC lifted its holdings in shares of RXO by 34.3% during the first quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company's stock valued at $68,589,000 after acquiring an additional 916,379 shares during the period. Wellington Management Group LLP lifted its holdings in shares of RXO by 24.8% during the fourth quarter. Wellington Management Group LLP now owns 1,952,884 shares of the company's stock valued at $46,557,000 after acquiring an additional 387,766 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of RXO by 15.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company's stock valued at $52,155,000 after acquiring an additional 355,255 shares during the period. Driehaus Capital Management LLC increased its stake in shares of RXO by 23.7% in the fourth quarter. Driehaus Capital Management LLC now owns 1,517,931 shares of the company's stock valued at $36,187,000 after buying an additional 290,867 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of RXO by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,562,787 shares of the company's stock valued at $37,257,000 after buying an additional 266,674 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RXO. Citigroup restated a "neutral" rating and issued a $18.00 target price (up from $15.00) on shares of RXO in a research note on Wednesday, May 21st. UBS Group reiterated a "neutral" rating and issued a $15.00 price objective (up from $14.00) on shares of RXO in a research report on Friday, August 8th. Wells Fargo & Company lowered their price objective on RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Cowen restated a "hold" rating on shares of RXO in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. cut their price objective on RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $17.93.

RXO Price Performance

RXO stock traded down $0.08 during midday trading on Wednesday, reaching $16.12. The company had a trading volume of 1,031,248 shares, compared to its average volume of 1,639,997. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. Rxo Inc has a 1-year low of $12.19 and a 1-year high of $31.98. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -7.45, a price-to-earnings-growth ratio of 7.71 and a beta of 1.68. The stock has a 50 day moving average price of $15.97 and a 200-day moving average price of $16.53.

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

About RXO

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.