Rxo Inc (NYSE:RXO) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in Rxo Inc (NYSE:RXO - Free Report) by 7.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 482,243 shares of the company's stock after buying an additional 32,820 shares during the quarter. New York State Common Retirement Fund owned approximately 0.29% of RXO worth $9,211,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of RXO by 4.0% in the first quarter. Envestnet Asset Management Inc. now owns 70,917 shares of the company's stock worth $1,355,000 after buying an additional 2,741 shares in the last quarter. Principal Financial Group Inc. raised its stake in RXO by 3.4% during the first quarter. Principal Financial Group Inc. now owns 707,430 shares of the company's stock valued at $13,512,000 after purchasing an additional 23,160 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in RXO during the first quarter valued at $292,000. New York State Teachers Retirement System raised its stake in RXO by 1.8% during the first quarter. New York State Teachers Retirement System now owns 115,904 shares of the company's stock valued at $2,214,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in RXO by 4.2% during the first quarter. Illinois Municipal Retirement Fund now owns 79,539 shares of the company's stock valued at $1,519,000 after purchasing an additional 3,236 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Oppenheimer downgraded shares of RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. The Goldman Sachs Group reduced 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. Stifel Nicolaus reduced 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. Finally, Bank of America increased their target price on shares of RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $18.87.

RXO Stock Up 0.6%

Shares of RXO stock traded up $0.09 during mid-day trading on Monday, hitting $16.26. 310,851 shares of the stock traded hands, compared to its average volume of 1,584,094. The stock has a market cap of $2.67 billion, a P/E ratio of -7.49, a P/E/G ratio of 8.00 and a beta of 1.69. The stock's fifty day moving average is $16.13 and its two-hundred day moving average is $18.23. Rxo Inc has a 52-week low of $12.19 and a 52-week high of $32.82. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $1.51 billion. During the same period in the previous year, the business earned ($0.03) earnings per share. The business's revenue for the quarter was up 57.0% compared to the same quarter last year. Equities analysts predict that Rxo Inc will post 0.31 EPS for the current 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.