Northwest & Ethical Investments L.P. Purchases 24,700 Shares of Rxo Inc $RXO

Key Points

• Northwest & Ethical Investments L.P. increased its stake in RXO Inc by 277.5%, acquiring an additional 24,700 shares, bringing its total holdings to 33,600 shares valued at $641,000.
• Other notable investors like Larson Financial Group LLC and CWM LLC also significantly boosted their stakes in RXO during the first quarter, indicating strong institutional interest.
• RXO reported a quarterly earnings per share of $0.04, exceeding analyst expectations, while its revenue increased by 52.6% year-over-year to $1.42 billion.

Northwest & Ethical Investments L.P. raised its stake in Rxo Inc (NYSE:RXO - Free Report) by 277.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,600 shares of the company's stock after buying an additional 24,700 shares during the period. Northwest & Ethical Investments L.P.'s holdings in RXO were worth $641,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings 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 buying an additional 23,160 shares in the last quarter. New York State Teachers Retirement System increased its holdings 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 buying an additional 2,000 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 buying an additional 34,974 shares in the last quarter. SG Americas Securities LLC increased its holdings 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 buying an additional 37,024 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of RXO in the fourth quarter valued at $3,738,000. Institutional investors own 92.73% of the company's stock.

RXO Stock Down 4.3%

NYSE:RXO traded down $0.7360 during trading hours on Monday, reaching $16.2340. The company's stock had a trading volume of 1,574,441 shares, compared to its average volume of 2,050,120. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -7.52, a price-to-earnings-growth ratio of 8.07 and a beta of 1.68. Rxo Inc has a one year low of $12.19 and a one year high of $31.98. The business's 50-day moving average is $15.95 and its 200-day moving average is $16.53. 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 (NYSE:RXO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. The firm had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.44 billion. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. RXO's revenue for the quarter was up 52.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. Equities research analysts predict that Rxo Inc will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on RXO shares. UBS Group reissued a "neutral" rating and set a $15.00 target price (up from $14.00) on shares of RXO in a research note on Friday, August 8th. Wall Street Zen raised shares of RXO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Bank of America boosted their target price on shares of RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Citigroup reissued a "neutral" rating and set a $18.00 target price (up from $15.00) on shares of RXO in a research note on Wednesday, May 21st. Finally, Morgan Stanley cut their target price on shares of RXO from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Three equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $17.93.

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.