Aviva PLC Invests $20.93 Million in RXO, Inc. (NYSE:RXO)

Aviva PLC purchased a new stake in shares of RXO, Inc. (NYSE:RXO – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,478 shares of the company’s stock, valued at approximately $20,925,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in RXO during the fourth quarter valued at approximately $25,000. Antonetti Capital Management LLC bought a new position in RXO during the fourth quarter valued at approximately $29,000. Shell Asset Management Co. bought a new position in RXO during the fourth quarter valued at approximately $30,000. Mendota Financial Group LLC bought a new position in RXO during the fourth quarter valued at approximately $49,000. Finally, Nisa Investment Advisors LLC bought a new position in RXO during the fourth quarter valued at approximately $50,000. 9.85% of the stock is owned by institutional investors.

RXO Stock Up 2.1 %

Shares of RXO stock opened at $20.64 on Friday. RXO, Inc. has a twelve month low of $14.75 and a twelve month high of $25.50. The stock has a fifty day simple moving average of $19.05 and a two-hundred day simple moving average of $18.68. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.77.

RXO (NYSE:RXO – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.07 billion. The company’s revenue for the quarter was down 22.9% on a year-over-year basis. On average, research analysts expect that RXO, Inc. will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Oppenheimer upped their price objective on RXO from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. UBS Group boosted their target price on RXO from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. Cowen began coverage on shares of RXO in a research note on Monday, February 27th. They issued a “market perform” rating and a $22.00 target price on the stock. Cowen began coverage on shares of RXO in a report on Monday, February 27th. They issued a “market perform” rating and a $22.00 target price for the company. Finally, Benchmark started coverage on shares of RXO in a report on Tuesday, April 4th. They set a “hold” rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.00.

About RXO

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RXO, Inc provides full truckload freight transportation brokering services through its proprietary digital marketplace in North America. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was founded in 2022 and is based in Charlotte, North Carolina.