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

Geode Capital Management LLC increased its stake in shares of RXO, Inc. (NYSE:RXO) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,362,721 shares of the company’s stock after acquiring an additional 307,492 shares during the quarter. Geode Capital Management LLC’s holdings in RXO were worth $80,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. grew its holdings in shares of RXO by 122.6% during the fourth quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company’s stock worth $39,971,000 after purchasing an additional 923,307 shares during the last quarter. Alliancebernstein L.P. grew its stake in RXO by 13.3% during the 4th quarter. Alliancebernstein L.P. now owns 178,310 shares of the company’s stock worth $4,251,000 after buying an additional 20,880 shares during the last quarter. Wellington Management Group LLP increased its position in RXO by 24.8% during the fourth quarter. Wellington Management Group LLP now owns 1,952,884 shares of the company’s stock worth $46,557,000 after buying an additional 387,766 shares during the period. Life Planning Partners Inc acquired a new position in RXO during the fourth quarter worth approximately $3,762,000. Finally, Norges Bank purchased a new stake in RXO in the fourth quarter valued at approximately $28,342,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RXO shares. Barclays lowered their target price on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Susquehanna decreased their target price on shares of RXO from $18.00 to $13.00 and set a “negative” rating for the company in a research note on Wednesday, March 26th. Citigroup reduced their price objective on RXO from $23.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday. Stifel Nicolaus lowered their target price on RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on RXO in a research note on Friday, March 7th. They set a “hold” rating and a $19.00 price target for the company. Two 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.73.

RXO Stock Down 3.2 %

RXO stock opened at $13.62 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $18.83 and its 200 day moving average price is $24.29. RXO, Inc. has a 52 week low of $12.39 and a 52 week high of $32.82. The company has a market cap of $2.23 billion, a P/E ratio of -6.43, a P/E/G ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. On average, research analysts expect that RXO, Inc. will post 0.31 earnings per share for the current fiscal 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.