Nuveen LLC acquired a new stake in shares of Rxo Inc (NYSE:RXO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 424,467 shares of the company's stock, valued at approximately $8,107,000. Nuveen LLC owned about 0.26% of RXO at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in RXO. Larson Financial Group LLC increased its position in shares of RXO by 1,990.2% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock valued at $33,000 after acquiring an additional 1,632 shares during the period. CWM LLC increased its position in shares of RXO by 234.4% in the 1st quarter. CWM LLC now owns 1,876 shares of the company's stock valued at $36,000 after acquiring an additional 1,315 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of RXO by 52.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock valued at $52,000 after acquiring an additional 945 shares during the period. PNC Financial Services Group Inc. increased its position in shares of RXO by 25.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,797 shares of the company's stock valued at $130,000 after acquiring an additional 1,398 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of RXO by 37.2% in the 4th quarter. Mackenzie Financial Corp now owns 9,967 shares of the company's stock valued at $238,000 after acquiring an additional 2,700 shares during the period. Hedge funds and other institutional investors own 92.73% of the company's stock.
RXO Price Performance
RXO stock traded down $0.02 during midday trading on Tuesday, reaching $16.21. The company had a trading volume of 2,179,671 shares, compared to its average volume of 2,054,688. The company has a market capitalization of $2.66 billion, a P/E ratio of -7.50, a P/E/G ratio of 7.71 and a beta of 1.68. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $31.98. The firm's fifty day simple moving average is $15.97 and its 200-day simple 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 results on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. As a group, equities analysts anticipate that Rxo Inc will post 0.31 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on RXO. The Goldman Sachs Group lowered their target price on shares of RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company lowered their target price on shares of RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Bank of America increased their target price on shares of RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Morgan Stanley lowered 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. Finally, Stifel Nicolaus lowered their target price on shares of RXO from $24.00 to $14.00 and set a "hold" rating on the stock 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, RXO has an average rating of "Hold" and a consensus target price of $17.93.
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About RXO
(
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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