Raymond James Financial Inc. Takes $1.59 Million Position in RXO, Inc. (NYSE:RXO)

Raymond James Financial Inc. bought a new stake in RXO, Inc. (NYSE:RXO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 66,624 shares of the company's stock, valued at approximately $1,588,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after purchasing an additional 510 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of RXO during the third quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its holdings in RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after acquiring an additional 868 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in RXO by 407.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock worth $43,000 after acquiring an additional 1,445 shares during the last quarter. Finally, KBC Group NV grew its holdings in 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 acquiring an additional 1,672 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Price Performance

Shares of RXO traded up $0.64 during mid-day trading on Thursday, hitting $13.63. The company's stock had a trading volume of 141,709 shares, compared to its average volume of 1,492,423. 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 1-year low of $12.19 and a 1-year high of $32.82. The firm has a market capitalization of $2.23 billion, a P/E ratio of -6.43, a P/E/G ratio of 4.55 and a beta of 1.71. The firm has a 50-day simple moving average of $16.23 and a 200 day simple moving average of $22.51.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RXO. Barclays decreased their price objective on shares of RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Stifel Nicolaus decreased their price target on RXO from $24.00 to $14.00 and set a "hold" rating for the company in a report on Thursday. Morgan Stanley dropped their price objective on RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Citigroup lowered their price target on RXO from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Oppenheimer cut RXO from an "outperform" rating to a "market perform" rating in a research report on Friday, April 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, RXO presently has an average rating of "Hold" and an average price target of $21.36.

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.