Swedbank AB Trims Holdings in Rxo Inc $RXO

Key Points

• Swedbank AB reduced its stake in RXO Inc by 42.3%, selling 1,168,000 shares in the first quarter, resulting in ownership of approximately 1.6 million shares valued at $30.48 million.
• RXO's stock price recently opened at $16.56 after trading down 3.5%, with a market cap of $2.72 billion and a PE ratio of -7.67.
• Despite a quarter-over-quarter revenue increase of 52.6%, RXO reported an EPS of $0.04, slightly exceeding analysts' expectations, as its net margin remained negative at -5.45%.

Swedbank AB lowered its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 42.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,596,000 shares of the company's stock after selling 1,168,000 shares during the period. Swedbank AB owned approximately 0.97% of RXO worth $30,484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RXO. Principal Financial Group Inc. increased its stake in RXO by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 707,430 shares of the company's stock valued at $13,512,000 after buying an additional 23,160 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of RXO by 1.8% during the 1st quarter. New York State Teachers Retirement System now owns 115,904 shares of the company's stock worth $2,214,000 after purchasing an additional 2,000 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of RXO by 1,728.8% in the 1st quarter. GAMMA Investing LLC now owns 36,997 shares of the company's stock worth $707,000 after purchasing an additional 34,974 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in shares of RXO in the 1st quarter worth approximately $56,693,000. Finally, SG Americas Securities LLC lifted its stake in RXO by 251.2% in the first quarter. SG Americas Securities LLC now owns 51,761 shares of the company's stock valued at $989,000 after purchasing an additional 37,024 shares during the last quarter. Institutional investors own 92.73% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on RXO shares. UBS Group restated a "neutral" rating and issued a $15.00 target price (up from $14.00) on shares of RXO in a research note on Friday, August 8th. Wall Street Zen upgraded RXO from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. cut their target price on shares of RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a research report on Tuesday, July 8th. Citigroup reiterated a "neutral" rating and issued a $18.00 target price (up previously from $15.00) on shares of RXO in a research note on Wednesday, May 21st. Finally, Susquehanna set a $12.00 price target on shares of RXO and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.92.

RXO Price Performance

NYSE RXO traded up $0.63 during trading on Thursday, reaching $17.55. The company's stock had a trading volume of 450,232 shares, compared to its average volume of 1,659,708. The stock has a market capitalization of $2.88 billion, a PE ratio of -8.13, a P/E/G ratio of 8.34 and a beta of 1.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a fifty day moving average of $16.11 and a 200 day moving average of $16.11. Rxo Inc has a one year low of $12.19 and a one year high of $31.98.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.02. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.44 billion. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The business's revenue for the quarter was up 52.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. Analysts expect that Rxo Inc will post 0.31 EPS for the current fiscal year.

RXO 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.