Swedbank AB Sells 200,000 Shares of Rxo Inc $RXO

Key Points

• Swedbank AB reduced its RXO stake by 14.7% in the first quarter, selling 200,000 shares and leaving it with 1,158,000 shares worth about $16.93 million.
• Institutional ownership of RXO remains heavy, with 92.73% of the stock held by hedge funds and other institutional investors, even as several funds made small position changes.
• Analysts remain mixed on RXO: the consensus rating is Hold with an average price target of $21.46, while the stock recently traded near $26.91 after reporting quarterly revenue above expectations and EPS in line with estimates.

Swedbank AB cut its position in shares of Rxo Inc (NYSE:RXO - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,158,000 shares of the company's stock after selling 200,000 shares during the quarter. Swedbank AB owned approximately 0.70% of RXO worth $16,930,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RXO. Oregon Public Employees Retirement Fund increased its position in RXO by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 37,543 shares of the company's stock worth $475,000 after buying an additional 600 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in RXO by 1.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 49,406 shares of the company's stock valued at $624,000 after purchasing an additional 724 shares during the last quarter. ProShare Advisors LLC lifted its holdings in RXO by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 31,634 shares of the company's stock valued at $400,000 after purchasing an additional 972 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of RXO by 1.0% in the second quarter. Thrivent Financial for Lutherans now owns 104,861 shares of the company's stock worth $1,648,000 after purchasing an additional 1,007 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of RXO by 5.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,568 shares of the company's stock valued at $273,000 after purchasing an additional 1,140 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of RXO from $15.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Stifel Nicolaus upgraded RXO from a "hold" rating to a "buy" rating and set a $22.00 price target for the company in a research report on Friday, May 15th. Susquehanna boosted their price objective on RXO from $14.00 to $18.00 and gave the company a "negative" rating in a research note on Friday, May 8th. Bank of America dropped their price objective on RXO from $17.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, March 25th. Finally, Stephens raised RXO to a "hold" rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $21.46.

RXO Stock Up 0.2%

RXO opened at $26.91 on Friday. The firm has a market capitalization of $4.44 billion, a P/E ratio of -44.11 and a beta of 2.03. Rxo Inc has a one year low of $10.43 and a one year high of $29.86. The company has a fifty day moving average price of $24.79 and a 200-day moving average price of $18.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted ($0.03) earnings per share. The firm's revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Rxo Inc will post 0.08 earnings per share for the current fiscal year.

RXO Company Profile

RXO Inc NYSE: RXO is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.

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