RXO, Inc. (NYSE:RXO) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in RXO, Inc. (NYSE:RXO) by 16.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,055,229 shares of the company’s stock after buying an additional 441,994 shares during the period. Geode Capital Management LLC’s holdings in RXO were worth $85,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of RXO by 40.0% during the third 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. Nomura Asset Management Co. Ltd. grew its stake in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in RXO by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock worth $668,000 after buying an additional 575 shares during the period. Glenmede Trust Co. NA lifted its stake in RXO by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 13,923 shares of the company’s stock valued at $390,000 after buying an additional 650 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of RXO by 2.3% in the second quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock valued at $860,000 after acquiring an additional 751 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on RXO. Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 price target on shares of RXO in a research report on Monday, November 11th. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Citigroup lowered RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Tuesday, November 12th. Susquehanna reduced their price objective on 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 reiterated a “neutral” rating and issued a $29.00 target price on shares of RXO in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.47.

RXO Stock Performance

NYSE RXO opened at $24.83 on Friday. The business’s 50-day moving average price is $28.56 and its 200 day moving average price is $27.38. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. RXO, Inc. has a twelve month low of $18.75 and a twelve month high of $32.82. The company has a market capitalization of $3.99 billion, a PE ratio of -12.54, a price-to-earnings-growth ratio of 15.82 and a beta of 1.32.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $956.19 million. During the same period in the previous year, the company earned $0.05 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts predict that RXO, Inc. will post 0.12 earnings per share 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.