Invesco Ltd. Increases Holdings in RXO, Inc. (NYSE:RXO)

Invesco Ltd. grew its stake in RXO, Inc. (NYSE:RXO - Free Report) by 11.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 634,503 shares of the company's stock after acquiring an additional 66,832 shares during the quarter. Invesco Ltd. owned about 0.39% of RXO worth $15,127,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after purchasing an additional 510 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in RXO in the 3rd quarter valued at about $28,000. Smartleaf Asset Management LLC grew its stake in shares of RXO by 228.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after buying an additional 868 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of RXO by 407.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock worth $43,000 after buying an additional 1,445 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of RXO by 41.2% during the 4th quarter. KBC Group NV now owns 5,727 shares of the company's stock worth $137,000 after buying an additional 1,672 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RXO. Oppenheimer lowered RXO from an "outperform" rating to a "market perform" rating in a research report on Friday, April 4th. Susquehanna lowered their price target on RXO from $18.00 to $13.00 and set a "negative" rating for the company in a report on Wednesday, March 26th. Benchmark restated a "hold" rating on shares of RXO in a report on Wednesday, January 15th. Barclays lowered their target price on shares of RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of RXO in a research note on Friday, March 7th. They issued a "hold" rating and a $19.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.40.

RXO Stock Down 3.9 %

RXO traded down $0.55 on Friday, hitting $13.54. 408,906 shares of the company were exchanged, compared to its average volume of 1,138,575. The firm has a 50-day moving average price of $17.43 and a two-hundred day moving average price of $23.44. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. RXO, Inc. has a twelve month low of $12.19 and a twelve month high of $32.82. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -6.38, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60.

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

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.