RXO, Inc. (NYSE:RXO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 20.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471,284 shares of the company's stock after selling 118,022 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of RXO worth $11,235,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its position in shares of RXO by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company's stock valued at $783,000 after buying an additional 500 shares during the last quarter. Blue Trust Inc. lifted its position in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after acquiring an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in RXO by 1.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company's stock valued at $712,000 after acquiring an additional 518 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in RXO by 2.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company's stock valued at $505,000 after acquiring an additional 551 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in RXO by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 47,110 shares of the company's stock worth $1,123,000 after purchasing an additional 747 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

RXO Stock Performance

NYSE RXO traded up $0.63 on Tuesday, reaching $15.71. 1,089,969 shares of the company's stock traded hands, compared to its average volume of 1,256,685. RXO, Inc. has a fifty-two week low of $12.19 and a fifty-two week high of $32.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -7.41, a P/E/G ratio of 4.55 and a beta of 1.71. The stock has a 50 day moving average price of $15.40 and a 200-day moving average price of $21.25.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The business's quarterly revenue was up 57.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. Equities research analysts predict that RXO, Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their price objective on RXO from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Stifel Nicolaus decreased their price target on RXO from $24.00 to $14.00 and set a "hold" rating for the company in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a report on Friday, March 7th. They issued a "hold" rating and a $19.00 price target for the company. Citigroup restated a "neutral" rating and set a $18.00 price objective (up previously from $15.00) on shares of RXO in a report on Wednesday, May 21st. Finally, Truist Financial decreased their price objective on shares of RXO from $24.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, RXO currently has a consensus rating of "Hold" and a consensus price target of $20.00.

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.