JPMorgan Chase & Co. Buys 303,224 Shares of RXO, Inc. (NYSE:RXO)

JPMorgan Chase & Co. boosted its holdings in RXO, Inc. (NYSE:RXO - Free Report) by 111.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 575,286 shares of the company's stock after purchasing an additional 303,224 shares during the quarter. JPMorgan Chase & Co. owned 0.36% of RXO worth $13,715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its position in shares of RXO by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company's stock valued at $783,000 after buying an additional 500 shares in the last quarter. Blue Trust Inc. raised its stake in shares of RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after acquiring an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in RXO by 1.8% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company's stock worth $712,000 after buying an additional 518 shares during the period. Mutual of America Capital Management LLC boosted its holdings in RXO by 2.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company's stock valued at $505,000 after acquiring an additional 551 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company's stock worth $39,000 after purchasing an additional 570 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

RXO Price Performance

Shares of RXO stock traded up $0.24 on Thursday, reaching $13.15. The stock had a trading volume of 149,959 shares, compared to its average volume of 1,096,860. The business's 50 day moving average is $18.37 and its two-hundred day moving average is $24.02. The company has a market cap of $2.16 billion, a P/E ratio of -6.23, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. RXO, Inc. has a 1 year low of $12.39 and a 1 year high of $32.82. 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 (NYSE:RXO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, research analysts anticipate that RXO, Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stifel Nicolaus cut their target price on RXO from $27.00 to $24.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of RXO in a report on Friday, March 7th. They set a "hold" rating and a $19.00 price objective for the company. Oppenheimer lowered RXO from an "outperform" rating to a "market perform" rating in a research report on Friday, April 4th. Susquehanna decreased their price objective on shares of RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research note on Wednesday, March 26th. Finally, Citigroup lowered their target price on RXO from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.