Nuveen Asset Management LLC Cuts Stock Position in RXO, Inc. (NYSE:RXO)

Nuveen Asset Management LLC decreased its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 619,289 shares of the company's stock after selling 16,568 shares during the period. Nuveen Asset Management LLC owned 0.39% of RXO worth $14,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Blue Trust Inc. boosted its position in RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after acquiring an additional 510 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of RXO by 228.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after purchasing an additional 868 shares during the last quarter. KBC Group NV boosted its stake in shares of RXO by 41.2% during the 4th quarter. KBC Group NV now owns 5,727 shares of the company's stock worth $137,000 after acquiring an additional 1,672 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in RXO during the fourth quarter valued at approximately $267,000. Finally, Xponance Inc. grew its stake in RXO by 29.6% in the 4th quarter. Xponance Inc. now owns 11,508 shares of the company's stock valued at $274,000 after buying an additional 2,631 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RXO has been the topic of several research reports. Susquehanna lowered their price target on RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on RXO in a research report on Friday, March 7th. They issued a "hold" rating and a $19.00 price objective for the company. Stifel Nicolaus dropped their price objective on RXO from $24.00 to $14.00 and set a "hold" rating for the company in a report on Thursday, May 8th. 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 research report on Thursday, May 8th. Finally, Oppenheimer cut shares of RXO from an "outperform" rating to a "market perform" rating in a report on Friday, April 4th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $20.00.

RXO Stock Down 1.0%

Shares of RXO stock traded down $0.16 during midday trading on Friday, hitting $15.59. The company had a trading volume of 127,163 shares, compared to its average volume of 1,534,331. 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 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock has a market capitalization of $2.56 billion, a P/E ratio of -7.36, a P/E/G ratio of 4.55 and a beta of 1.71. The company has a 50 day moving average of $15.20 and a 200 day moving average of $21.08.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. RXO's quarterly revenue was up 57.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. On average, equities analysts predict 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.