Principal Financial Group Inc. Purchases 23,160 Shares of Rxo Inc (NYSE:RXO)

Principal Financial Group Inc. increased its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 3.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 707,430 shares of the company's stock after acquiring an additional 23,160 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of RXO worth $13,512,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RXO. Vanguard Group Inc. increased its position in RXO by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after buying an additional 2,009,937 shares during the last quarter. Norges Bank purchased a new stake in RXO in the fourth quarter worth $28,342,000. Franklin Resources Inc. increased its position in RXO by 122.6% in the fourth quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock worth $39,971,000 after buying an additional 923,307 shares during the last quarter. Douglas Lane & Associates LLC increased its position in RXO by 34.3% in the first quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company's stock worth $68,589,000 after buying an additional 916,379 shares during the last quarter. Finally, FIL Ltd increased its position in RXO by 10.4% in the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company's stock worth $150,857,000 after buying an additional 596,158 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

RXO Price Performance

RXO stock traded down $0.65 during midday trading on Friday, hitting $17.25. 1,647,225 shares of the company's stock were exchanged, compared to its average volume of 1,367,682. Rxo Inc has a 52-week low of $12.19 and a 52-week high of $32.82. The stock has a 50-day moving average price of $15.90 and a two-hundred day moving average price of $18.54. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $2.83 billion, a P/E ratio of -7.95, a PEG ratio of 8.36 and a beta of 1.69.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a positive return on equity of 1.18% and a negative net margin of 5.94%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the firm earned ($0.03) EPS. The company's revenue for the quarter was up 57.0% on a year-over-year basis. On average, equities research analysts forecast that Rxo Inc will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

RXO has been the topic of a number of analyst reports. Barclays decreased their price objective on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Bank of America increased their price target on shares of RXO from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Oppenheimer downgraded shares of RXO from an "outperform" rating to a "market perform" rating in a report on Friday, April 4th. Jefferies Financial Group lowered their price target on shares of RXO from $26.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, The Goldman Sachs Group lowered their price target on shares of RXO from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $18.87.

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.