Public Sector Pension Investment Board Increases Holdings in Rxo Inc $RXO

Key Points

• The Public Sector Pension Investment Board increased its holdings in RXO Inc by 28.6% in the first quarter, owning approximately 0.27% of the company's stock valued at $8.56 million.
• RXO reported a net margin of -5.45% but achieved a revenue of $1.42 billion, showing a year-over-year increase of 52.6%.
• Analysts have mixed ratings on RXO, with a consensus rating of "Hold" and an average price target of $17.93, amidst several price adjustments by major financial institutions.

Public Sector Pension Investment Board raised its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 28.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 448,343 shares of the company's stock after acquiring an additional 99,818 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.27% of RXO worth $8,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RXO. Douglas Lane & Associates LLC raised its holdings in RXO by 34.3% during the first 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 during the period. Nuveen LLC bought a new stake in RXO during the first quarter valued at about $8,107,000. Wellington Management Group LLP raised its holdings in RXO by 24.8% during the fourth quarter. Wellington Management Group LLP now owns 1,952,884 shares of the company's stock valued at $46,557,000 after acquiring an additional 387,766 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in RXO by 15.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company's stock valued at $52,155,000 after acquiring an additional 355,255 shares during the period. Finally, Driehaus Capital Management LLC increased its holdings in shares of RXO by 23.7% in the fourth quarter. Driehaus Capital Management LLC now owns 1,517,931 shares of the company's stock worth $36,187,000 after purchasing an additional 290,867 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded RXO from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company decreased their target price on RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. UBS Group reiterated a "neutral" rating and issued a $15.00 target price (up from $14.00) on shares of RXO in a research report on Friday, August 8th. JPMorgan Chase & Co. decreased their target price on RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a research report on Tuesday, July 8th. Finally, Morgan Stanley decreased their target price on RXO from $23.00 to $21.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.93.

RXO Trading Up 3.4%

Shares of RXO traded up $0.51 during mid-day trading on Tuesday, reaching $15.39. 471,384 shares of the company's stock traded hands, compared to its average volume of 1,617,674. The stock has a market cap of $2.52 billion, a P/E ratio of -7.13, a P/E/G ratio of 7.12 and a beta of 1.68. The stock's 50-day moving average is $15.99 and its two-hundred day moving average is $16.79. 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 current ratio of 1.35 and a quick ratio of 1.35.

RXO (NYSE:RXO - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.04 EPS 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 analysts' expectations of $1.44 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The company's quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Research analysts forecast that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

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.