TD Asset Management Inc Lowers Stock Holdings in Rxo Inc $RXO

Key Points

• TD Asset Management Inc reduced its stake in RXO Inc by 23.5%, now owning 76,350 shares worth approximately $1,200,000.
• Other institutional investors, including Wellington Management Group and T. Rowe Price, have significantly increased their holdings in RXO, indicating mixed investment sentiment.
• RXO's stock has experienced fluctuations, with a trading down of 4.8%, and a recent earnings report showed a 52.6% year-over-year revenue increase.

TD Asset Management Inc trimmed its holdings in shares of Rxo Inc (NYSE:RXO - Free Report) by 23.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 76,350 shares of the company's stock after selling 23,478 shares during the period. TD Asset Management Inc's holdings in RXO were worth $1,200,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company's stock worth $176,855,000 after acquiring an additional 7,306,537 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in RXO by 4.1% in the 2nd quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company's stock worth $58,789,000 after acquiring an additional 148,738 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in RXO in the 1st quarter worth approximately $56,693,000. Fred Alger Management LLC raised its holdings in RXO by 21.4% in the 1st quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company's stock worth $40,202,000 after acquiring an additional 371,511 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in RXO by 15.7% in the 1st quarter. Victory Capital Management Inc. now owns 982,789 shares of the company's stock worth $18,771,000 after acquiring an additional 133,449 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Trading Down 4.8%

Shares of RXO stock opened at $17.54 on Thursday. Rxo Inc has a 1 year low of $12.19 and a 1 year high of $31.98. The firm has a fifty day moving average price of $16.44 and a 200-day moving average price of $15.74. 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 company has a market cap of $2.88 billion, a price-to-earnings ratio of -8.12, a PEG ratio of 11.59 and a beta of 1.65.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data 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. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the firm posted $0.03 EPS. The company's revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, equities analysts predict that Rxo Inc will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RXO has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. The Goldman Sachs Group decreased their price objective on shares of RXO from $17.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, October 9th. Truist Financial set a $22.00 price objective on shares of RXO in a report on Tuesday, October 14th. Barclays cut their target price on shares of RXO from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Finally, Cowen reaffirmed a "hold" rating on shares of RXO in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.46.

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.

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