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

Principal Financial Group Inc. boosted its position in Rxo Inc (NYSE:RXO - Free Report) by 3.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,430 shares of the company's stock after purchasing an additional 23,160 shares during the quarter. Principal Financial Group Inc. owned about 0.43% of RXO worth $13,512,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock valued at $410,137,000 after acquiring an additional 2,009,937 shares in the last quarter. Norges Bank acquired a new position in RXO in the 4th quarter valued at $28,342,000. Franklin Resources Inc. raised its holdings in RXO by 122.6% in the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock valued at $39,971,000 after acquiring an additional 923,307 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in RXO by 34.3% in the 1st 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 in the last quarter. Finally, FIL Ltd raised its holdings in RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company's stock valued at $150,857,000 after acquiring an additional 596,158 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RXO. UBS Group dropped their price objective on RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Jefferies Financial Group lowered their price target on RXO from $26.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on RXO from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Morgan Stanley lowered their price target on RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. lowered their price target on RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.87.

RXO Price Performance

RXO stock traded up $0.01 during midday trading on Wednesday, reaching $16.16. 1,152,207 shares of the stock were exchanged, compared to its average volume of 1,365,701. The company has a fifty day moving average price of $15.99 and a 200 day moving average price of $18.43. Rxo Inc has a 52 week low of $12.19 and a 52 week high of $32.82. The stock has a market capitalization of $2.65 billion, a PE ratio of -7.45, a P/E/G ratio of 8.04 and a beta of 1.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 1.30.

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

RXO 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.