Wells Fargo & Company MN Buys 30,993 Shares of RXO, Inc. (NYSE:RXO)

Wells Fargo & Company MN grew its holdings in RXO, Inc. (NYSE:RXO - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,448 shares of the company's stock after buying an additional 30,993 shares during the period. Wells Fargo & Company MN owned 0.06% of RXO worth $2,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in RXO by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after acquiring an additional 2,009,937 shares during the last quarter. Norges Bank acquired a new stake in RXO during the 4th quarter worth approximately $28,342,000. Franklin Resources Inc. boosted its stake in RXO by 122.6% in the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock valued at $39,971,000 after purchasing an additional 923,307 shares during the period. Barclays PLC grew its holdings in RXO by 185.5% in the 3rd quarter. Barclays PLC now owns 908,873 shares of the company's stock valued at $25,449,000 after buying an additional 590,530 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in RXO by 27.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company's stock worth $56,629,000 after buying an additional 508,330 shares during the period. 92.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RXO has been the topic of a number of analyst reports. Susquehanna decreased their target price on shares of RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a research report on Friday, March 7th. They set a "hold" rating and a $19.00 target price for the company. Truist Financial decreased their price target on RXO from $24.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley reduced their price objective on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, Stifel Nicolaus decreased their target price on shares of RXO from $27.00 to $24.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. Two equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.40.

RXO Trading Up 1.0 %

RXO stock traded up $0.14 during trading hours on Thursday, hitting $14.23. The stock had a trading volume of 116,940 shares, compared to its average volume of 1,152,393. The business's 50 day simple moving average is $16.83 and its 200-day simple moving average is $23.04. RXO, Inc. has a one year low of $12.19 and a one year high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -6.72, a P/E/G ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities analysts predict that RXO, Inc. will post 0.31 EPS for the current fiscal year.

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.