Geode Capital Management LLC Increases Stake in RXO, Inc. (NYSE:RXO)

Geode Capital Management LLC boosted its stake in RXO, Inc. (NYSE:RXO - Free Report) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,362,721 shares of the company's stock after buying an additional 307,492 shares during the period. Geode Capital Management LLC owned 2.09% of RXO worth $80,185,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of RXO by 439.5% in the 3rd quarter. FMR LLC now owns 47,837 shares of the company's stock valued at $1,339,000 after purchasing an additional 38,970 shares during the period. Raymond James Financial Inc. bought a new position in RXO in the fourth quarter worth $1,588,000. Charles Schwab Investment Management Inc. raised its holdings in RXO by 3.7% in the fourth 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. Harbor Capital Advisors Inc. purchased a new position in RXO during the fourth quarter valued at $2,004,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of 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 buying an additional 303,224 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Stock Performance

Shares of NYSE RXO traded up $0.26 during midday trading on Thursday, hitting $13.17. 170,923 shares of the stock traded hands, compared to its average volume of 1,096,964. The firm has a market capitalization of $2.16 billion, a P/E ratio of -6.22, a PEG ratio of 4.55 and a beta of 1.60. RXO, Inc. has a one year low of $12.39 and a one year high of $32.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The firm has a 50-day moving average of $18.37 and a two-hundred day moving average of $24.02.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities analysts forecast that RXO, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RXO shares. Susquehanna lowered their price target on shares of RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group lowered their target price on shares of RXO from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company cut their price target on RXO from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Benchmark reiterated a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Finally, Morgan Stanley dropped their target price on RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, RXO currently has an average rating of "Hold" and a consensus price target of $22.73.

About RXO

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.