Swedbank AB Cuts Stock Holdings in Rxo Inc $RXO

Key Points

• Swedbank AB reduced its stake in Rxo Inc by 3.4% during the second quarter, now holding 1,542,000 shares worth approximately $24.24 million.
• RXO had strong quarterly earnings, reporting $1.42 billion in revenue, a 52.6% increase from the previous year, and earnings per share of $0.04 beating expectations.
• Analyst ratings for RXO vary, with three analysts giving it a Buy rating, twelve a Hold rating, and one a Sell rating; the average price target is currently $16.92.

Swedbank AB lessened its position in Rxo Inc (NYSE:RXO - Free Report) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,542,000 shares of the company's stock after selling 54,000 shares during the quarter. Swedbank AB owned approximately 0.94% of RXO worth $24,240,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in RXO by 25.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company's stock worth $54,000 after purchasing an additional 688 shares in the last quarter. CWM LLC raised its stake in RXO by 234.4% during the 1st quarter. CWM LLC now owns 1,876 shares of the company's stock worth $36,000 after acquiring an additional 1,315 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in RXO by 25.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,797 shares of the company's stock valued at $130,000 after acquiring an additional 1,398 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in RXO in the first quarter valued at $30,000. Finally, Larson Financial Group LLC grew its holdings in shares of RXO by 1,990.2% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock worth $33,000 after purchasing an additional 1,632 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Performance

Shares of RXO stock traded up $0.17 during mid-day trading on Tuesday, hitting $16.67. The stock had a trading volume of 144,591 shares, compared to its average volume of 1,700,571. The firm has a market cap of $2.73 billion, a PE ratio of -7.72, a PEG ratio of 7.70 and a beta of 1.69. The company's 50-day simple moving average is $16.08 and its 200-day simple moving average is $15.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. Rxo Inc has a fifty-two week low of $12.19 and a fifty-two week high of $31.98.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate 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 was up 52.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. Sell-side analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

RXO has been the subject of several research reports. Barclays reduced their target price on RXO from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. UBS Group reissued a "neutral" rating and issued a $15.00 price objective (up from $14.00) on shares of RXO in a report on Friday, August 8th. Cowen reaffirmed a "hold" rating on shares of RXO in a report on Friday, August 8th. Morgan Stanley decreased their price target on shares of RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of RXO from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 8th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, RXO presently has a consensus rating of "Hold" and a consensus target price of $16.92.

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.