Vaughan Nelson Investment Management L.P. Purchases 355,255 Shares of RXO, Inc. (NYSE:RXO)

Vaughan Nelson Investment Management L.P. lifted its position in RXO, Inc. (NYSE:RXO - Free Report) by 15.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,730,665 shares of the company's stock after purchasing an additional 355,255 shares during the period. Vaughan Nelson Investment Management L.P. owned about 1.67% of RXO worth $52,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of RXO during the 4th quarter valued at about $1,588,000. Charles Schwab Investment Management Inc. increased its holdings in shares of RXO by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company's stock worth $51,138,000 after purchasing an additional 76,653 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in RXO by 111.5% during the 4th quarter. JPMorgan Chase & Co. now owns 575,286 shares of the company's stock valued at $13,715,000 after acquiring an additional 303,224 shares during the period. Victory Capital Management Inc. grew its position in RXO by 11.6% in the 4th quarter. Victory Capital Management Inc. now owns 849,340 shares of the company's stock worth $20,248,000 after purchasing an additional 88,110 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in RXO by 7.4% in the fourth quarter. Bank of New York Mellon Corp now owns 939,846 shares of the company's stock valued at $22,406,000 after acquiring an additional 64,522 shares during the period. 92.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RXO. Bank of America lifted their price objective on RXO from $15.00 to $18.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. UBS Group reduced their price objective on shares of RXO from $24.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group lowered their target price on shares of RXO from $26.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group cut their price target on RXO from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Wells Fargo & Company lowered their price objective on RXO from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.00.

RXO Price Performance

RXO stock traded up $0.16 during mid-day trading on Monday, reaching $15.51. 127,141 shares of the company's stock traded hands, compared to its average volume of 1,301,352. RXO, Inc. has a 12-month low of $12.19 and a 12-month high of $32.82. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -7.31, a PEG ratio of 4.55 and a beta of 1.73. The stock has a 50 day moving average of $14.88 and a two-hundred day moving average of $20.01. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business posted ($0.03) EPS. The firm's revenue was up 57.0% on a year-over-year basis. Equities analysts forecast that RXO, Inc. will post 0.31 earnings per share for the current year.

RXO Company 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.