State Street Corp Has $143.50 Million Holdings in RXO, Inc. (NYSE:RXO)

State Street Corp boosted its holdings in shares of RXO, Inc. (NYSE:RXO) by 13.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,124,927 shares of the company’s stock after acquiring an additional 602,741 shares during the quarter. State Street Corp’s holdings in RXO were worth $143,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RXO. MFN Partners Management LP increased its position in RXO by 11.0% during the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after buying an additional 1,722,301 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in RXO by 1,459.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock worth $42,574,000 after buying an additional 1,523,650 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in RXO during the third quarter worth approximately $27,964,000. Driehaus Capital Management LLC acquired a new position in RXO during the second quarter worth approximately $19,965,000. Finally, Victory Capital Management Inc. increased its position in RXO by 1,772.4% during the third quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock worth $21,314,000 after buying an additional 720,574 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Trading Down 3.5 %

Shares of RXO stock opened at $27.29 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.39 billion, a P/E ratio of -13.78, a price-to-earnings-growth ratio of 16.74 and a beta of 1.32. The stock has a 50 day simple moving average of $28.70 and a 200 day simple moving average of $27.21. RXO, Inc. has a 1 year low of $18.75 and a 1 year high of $32.82.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $29.00 target price on shares of RXO in a research report on Monday, November 18th. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Tuesday, November 12th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of RXO in a research report on Monday, November 11th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $31.00 target price on shares of RXO in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.47.

RXO Company 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.