The Manufacturers Life Insurance Company Purchases 13,578 Shares of RXO, Inc. (NYSE:RXO)

The Manufacturers Life Insurance Company lifted its position in shares of RXO, Inc. (NYSE:RXO) by 18.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 87,822 shares of the company’s stock after acquiring an additional 13,578 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in RXO were worth $2,094,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RXO. Price T Rowe Associates Inc. MD grew its holdings in RXO by 19.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 105,766 shares of the company’s stock worth $2,522,000 after acquiring an additional 17,424 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of RXO by 16.0% in the 4th quarter. Hsbc Holdings PLC now owns 26,897 shares of the company’s stock worth $648,000 after purchasing an additional 3,719 shares during the period. State of Tennessee Department of Treasury boosted its stake in shares of RXO by 20.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 69,415 shares of the company’s stock valued at $1,655,000 after purchasing an additional 11,962 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in RXO by 153.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,389 shares of the company’s stock valued at $415,000 after buying an additional 10,519 shares during the period. Finally, MetLife Investment Management LLC raised its stake in RXO by 22.3% in the fourth quarter. MetLife Investment Management LLC now owns 95,951 shares of the company’s stock worth $2,287,000 after buying an additional 17,496 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Price Performance

Shares of NYSE:RXO opened at $14.49 on Friday. RXO, Inc. has a twelve month low of $12.19 and a twelve month high of $32.82. 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 has a market cap of $2.38 billion, a PE ratio of -6.83, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. The company’s 50 day moving average is $16.00 and its 200 day moving average is $22.26.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.51 billion. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. The firm’s revenue was up 57.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.03) EPS. On average, sell-side analysts forecast that RXO, Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on RXO shares. Jefferies Financial Group dropped their target price on RXO from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Truist Financial cut their target price on RXO from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Oppenheimer lowered shares of RXO from an “outperform” rating to a “market perform” rating in a research report on Friday, April 4th. Barclays cut their price objective 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. Finally, Benchmark reissued a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, RXO currently has an average rating of “Hold” and an average price target of $19.93.

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.