Primecap Management Co. CA Increases Stock Position in RXO, Inc. (NYSE:RXO)

Primecap Management Co. CA raised its position in shares of RXO, Inc. (NYSE:RXO) by 20.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,020,900 shares of the company’s stock after buying an additional 175,300 shares during the quarter. Primecap Management Co. CA’s holdings in RXO were worth $26,697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RXO. Victory Capital Management Inc. lifted its position in RXO by 27.5% during the fourth quarter. Victory Capital Management Inc. now owns 38,479 shares of the company’s stock valued at $895,000 after buying an additional 8,295 shares during the period. Dimensional Fund Advisors LP lifted its position in RXO by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after buying an additional 93,885 shares during the period. Independent Advisor Alliance lifted its position in RXO by 26.0% during the fourth quarter. Independent Advisor Alliance now owns 29,576 shares of the company’s stock valued at $688,000 after buying an additional 6,101 shares during the period. Norges Bank purchased a new position in RXO during the fourth quarter valued at $24,250,000. Finally, US Bancorp DE raised its position in shares of RXO by 430.2% in the 4th quarter. US Bancorp DE now owns 45,309 shares of the company’s stock worth $1,054,000 after purchasing an additional 36,764 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RXO has been the subject of several recent analyst reports. UBS Group lifted their price target on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Barclays lifted their price target on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Morgan Stanley lifted their price target on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Tuesday, August 13th. Finally, TD Cowen lifted their price target on RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.00.

RXO Price Performance

NYSE RXO opened at $25.89 on Wednesday. RXO, Inc. has a one year low of $16.94 and a one year high of $32.82. The stock has a 50-day moving average of $28.62 and a 200 day moving average of $23.83. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -287.67, a PEG ratio of 12.46 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.17 and a current ratio of 1.17.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. On average, sell-side analysts forecast that RXO, Inc. will post 0.14 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.