58,500 Shares in RXO, Inc. (NYSE:RXO) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of RXO, Inc. (NYSE:RXO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 58,500 shares of the company's stock, valued at approximately $1,361,000. Louisiana State Employees Retirement System owned about 0.05% of RXO at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kirr Marbach & Co. LLC IN grew its stake in RXO by 0.3% in the 3rd quarter. Kirr Marbach & Co. LLC IN now owns 191,715 shares of the company's stock valued at $3,783,000 after buying an additional 653 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in RXO by 1.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company's stock valued at $1,231,000 after buying an additional 820 shares during the last quarter. Rhumbline Advisers grew its stake in RXO by 0.3% in the 3rd quarter. Rhumbline Advisers now owns 353,816 shares of the company's stock valued at $6,981,000 after buying an additional 905 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in RXO by 9.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 20,788 shares of the company's stock valued at $410,000 after buying an additional 1,855 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in RXO by 6,329.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company's stock valued at $39,000 after buying an additional 1,962 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RXO. Oppenheimer cut their price objective on shares of RXO from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, February 13th. TD Cowen upped their price target on shares of RXO from $16.50 to $19.50 and gave the stock a "market perform" rating in a report on Friday, February 9th. Susquehanna upped their price target on shares of RXO from $15.00 to $16.00 and gave the stock a "negative" rating in a report on Monday, March 25th. Bank of America downgraded shares of RXO from a "buy" rating to a "neutral" rating and cut their price target for the stock from $25.00 to $22.00 in a report on Thursday, February 8th. Finally, Benchmark reaffirmed a "hold" rating on shares of RXO in a report on Friday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, RXO has a consensus rating of "Hold" and a consensus target price of $20.23.

Insider Transactions at RXO

In other news, major shareholder Mfn Partners, Lp acquired 919,720 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost of $21.04 per share, for a total transaction of $19,350,908.80. Following the completion of the transaction, the insider now directly owns 14,675,369 shares in the company, valued at approximately $308,769,763.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 2,578,268 shares of company stock worth $52,301,046 over the last three months. 1.50% of the stock is owned by company insiders.

RXO Trading Up 0.7 %

Shares of RXO traded up $0.13 during trading hours on Monday, hitting $19.50. 558,131 shares of the stock were exchanged, compared to its average volume of 651,425. RXO, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50-day moving average of $20.93 and a 200-day moving average of $20.88. The firm has a market capitalization of $2.29 billion, a P/E ratio of 487.50, a price-to-earnings-growth ratio of 6.82 and a beta of 1.08.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. RXO had a net margin of 0.10% and a return on equity of 6.11%. The company had revenue of $978.00 million during the quarter, compared to analysts' expectations of $996.33 million. During the same period in the prior year, the company posted $0.28 earnings per share. RXO's revenue for the quarter was down 12.7% compared to the same quarter last year. On average, research analysts expect that RXO, Inc. will post 0.22 EPS 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.