Northwest & Ethical Investments L.P. Increases Position in 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. boosted its holdings in Rxo Inc (NYSE:RXO - Free Report) by 277.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,600 shares of the company's stock after purchasing an additional 24,700 shares during the period. Northwest & Ethical Investments L.P.'s holdings in RXO were worth $641,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in RXO by 1,990.2% in the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock worth $33,000 after purchasing an additional 1,632 shares during the last quarter. CWM LLC lifted its stake in RXO by 234.4% in the first quarter. CWM LLC now owns 1,876 shares of the company's stock worth $36,000 after purchasing an additional 1,315 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in RXO by 52.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock worth $52,000 after purchasing an additional 945 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in RXO by 25.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,797 shares of the company's stock worth $130,000 after purchasing an additional 1,398 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in RXO by 37.2% in the fourth quarter. Mackenzie Financial Corp now owns 9,967 shares of the company's stock worth $238,000 after purchasing an additional 2,700 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RXO. Susquehanna set a $12.00 price target on shares of RXO and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Truist Financial lowered their price objective on shares of RXO from $24.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Cowen reaffirmed a "hold" rating on shares of RXO in a research note on Friday, August 8th. Barclays lowered their price objective on shares of RXO from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group lowered their price objective on shares of RXO from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $17.93.

RXO Trading Up 15.0%

Shares of NYSE RXO traded up $2.2030 during midday trading on Friday, hitting $16.9030. 4,515,184 shares of the company traded hands, compared to its average volume of 1,904,723. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $31.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a 50-day moving average price of $15.93 and a 200 day moving average price of $16.63. The firm has a market cap of $2.77 billion, a P/E ratio of -7.83, a P/E/G ratio of 6.99 and a beta of 1.68.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $1.42 billion for 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 quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, analysts expect that Rxo Inc will post 0.31 earnings per share for the current year.

RXO Company 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.