RXO, Inc. (NYSE:RXO) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its position in RXO, Inc. (NYSE:RXO) by 24.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,952,884 shares of the company’s stock after purchasing an additional 387,766 shares during the period. Wellington Management Group LLP’s holdings in RXO were worth $46,557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in RXO by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock valued at $783,000 after acquiring an additional 500 shares in the last quarter. Blue Trust Inc. grew its position in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after purchasing an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of RXO by 1.8% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock worth $712,000 after purchasing an additional 518 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of RXO by 2.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock worth $505,000 after purchasing an additional 551 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RXO. Truist Financial initiated coverage on RXO in a report on Thursday, March 13th. They issued a “buy” rating and a $24.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 target price on the stock. Oppenheimer downgraded shares of RXO from an “outperform” rating to a “market perform” rating in a report on Friday. Stifel Nicolaus reduced their price objective on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group lowered their target price on shares of RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.80.

RXO Stock Performance

NYSE RXO opened at $14.44 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. RXO, Inc. has a 1-year low of $13.77 and a 1-year high of $32.82. The firm has a market capitalization of $2.37 billion, a P/E ratio of -6.81, a P/E/G ratio of 4.55 and a beta of 1.60. The business’s 50-day simple moving average is $20.49 and its 200-day simple moving average is $24.90.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. Equities analysts predict that RXO, Inc. will post 0.31 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.