Public Sector Pension Investment Board Buys 32,500 Shares of RXO, Inc. (NYSE:RXO)

Public Sector Pension Investment Board boosted its stake in shares of RXO, Inc. (NYSE:RXO) by 12.6% during the third quarter, Holdings Channel reports. The firm owned 291,102 shares of the company’s stock after purchasing an additional 32,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in RXO were worth $8,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after purchasing an additional 510 shares during the period. KBC Group NV increased its holdings in RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock valued at $114,000 after buying an additional 890 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in RXO during the second quarter valued at approximately $112,000. City Holding Co. increased its holdings in RXO by 57.9% during the third quarter. City Holding Co. now owns 5,241 shares of the company’s stock valued at $147,000 after buying an additional 1,921 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in RXO by 29.6% during the third quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock valued at $149,000 after buying an additional 1,212 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Stock Performance

RXO opened at $30.15 on Friday. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of -15.23, a PEG ratio of 16.10 and a beta of 1.33. The company has a fifty day moving average of $28.35 and a 200 day moving average of $26.58. RXO, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $32.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33.

RXO (NYSE:RXO) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $956.19 million. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. RXO’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.05 earnings per share. As a group, sell-side analysts forecast that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen upped their target price on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 target price on shares of RXO in a report on Monday, November 11th. Oppenheimer reaffirmed an “outperform” rating and set a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Susquehanna reduced their price objective on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $29.00 price objective on shares of RXO in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.47.

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.