Douglas Lane & Associates LLC Has $74.81 Million Position in RXO, Inc. (NYSE:RXO)

Douglas Lane & Associates LLC reduced its stake in RXO, Inc. (NYSE:RXO) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,671,780 shares of the company’s stock after selling 26,745 shares during the quarter. Douglas Lane & Associates LLC owned approximately 1.93% of RXO worth $74,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in RXO by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after purchasing an additional 510 shares during the last quarter. Motco increased its position in RXO by 5,450.0% in the 1st quarter. Motco now owns 2,442 shares of the company’s stock worth $53,000 after buying an additional 2,398 shares during the period. Allspring Global Investments Holdings LLC increased its position in RXO by 2,235.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company’s stock worth $80,000 after buying an additional 3,487 shares during the period. Canada Pension Plan Investment Board bought a new position in RXO in the 2nd quarter worth approximately $112,000. Finally, PNC Financial Services Group Inc. increased its position in shares of RXO by 62.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after purchasing an additional 1,987 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

RXO Trading Up 6.5 %

Shares of RXO traded up $1.82 during trading hours on Friday, hitting $29.88. 1,212,883 shares of the stock traded hands, compared to its average volume of 860,939. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. RXO, Inc. has a 1-year low of $16.94 and a 1-year high of $32.82. The firm has a market capitalization of $3.51 billion, a PE ratio of -332.00, a price-to-earnings-growth ratio of 13.85 and a beta of 1.34. The business has a fifty day moving average of $27.76 and a 200-day moving average of $24.67.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $930.00 million for the quarter, compared to analyst estimates of $934.14 million. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Analysts expect that RXO, Inc. will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. TD Cowen boosted their price objective on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group lowered their price objective on RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Oppenheimer restated an “outperform” rating and set a $31.00 price objective on shares of RXO in a research report on Tuesday, September 17th. UBS Group boosted their price objective on RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Citigroup started coverage on RXO in a research report on Wednesday. They issued a “buy” rating and a $33.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, RXO has a consensus rating of “Hold” and a consensus target price of $26.23.

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.