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

Bank of America Corp DE lowered its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 471,284 shares of the company's stock after selling 118,022 shares during the period. Bank of America Corp DE owned about 0.29% of RXO worth $11,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RXO. Vanguard Group Inc. grew its position in RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after purchasing an additional 2,009,937 shares during the last quarter. FIL Ltd boosted its stake in shares of RXO by 10.4% during 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 period. Geode Capital Management LLC grew its holdings in shares of RXO by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company's stock worth $80,185,000 after buying an additional 307,492 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in RXO by 27.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company's stock valued at $56,629,000 after acquiring an additional 508,330 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in RXO by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company's stock valued at $51,138,000 after acquiring an additional 76,653 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Price Performance

RXO stock traded down $0.13 during trading hours on Thursday, hitting $15.37. The stock had a trading volume of 55,761 shares, compared to its average volume of 1,253,396. RXO, Inc. has a 1-year low of $12.19 and a 1-year high of $32.82. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -7.25, a PEG ratio of 4.55 and a beta of 1.71. The stock's fifty day moving average is $15.27 and its two-hundred day moving average is $21.17. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business 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%. RXO's revenue was up 57.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, analysts predict that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RXO. Deutsche Bank Aktiengesellschaft assumed coverage on RXO in a research note on Friday, March 7th. They issued a "hold" rating and a $19.00 target price on the stock. Oppenheimer cut shares of RXO from an "outperform" rating to a "market perform" rating in a research note on Friday, April 4th. The Goldman Sachs Group cut their price objective on shares of RXO from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Susquehanna dropped their price target on shares of RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research note on Wednesday, March 26th. Finally, Stifel Nicolaus cut their price target on shares of RXO from $24.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average 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.