RXO, Inc. (NYSE:RXO) Shares Bought by Arizona State Retirement System

Arizona State Retirement System increased its stake in RXO, Inc. (NYSE:RXO) by 2.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,906 shares of the company’s stock after purchasing an additional 751 shares during the period. Arizona State Retirement System’s holdings in RXO were worth $860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Swedbank AB purchased a new position in shares of RXO during the 1st quarter valued at about $76,982,000. MFN Partners Management LP lifted its stake in shares of RXO by 19.8% in the 1st quarter. MFN Partners Management LP now owns 15,588,555 shares of the company’s stock valued at $340,922,000 after purchasing an additional 2,580,330 shares during the period. Vaughan Nelson Investment Management L.P. grew 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 valued at $42,574,000 after buying an additional 1,523,650 shares during the period. Motley Fool Asset Management LLC increased its stake in shares of RXO by 287.9% in the 1st quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock valued at $34,605,000 after purchasing an additional 1,174,361 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of RXO in the 4th quarter valued at about $24,250,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Ratings Changes

RXO has been the topic of several research analyst reports. Oppenheimer lifted their target price on shares of RXO from $22.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. UBS Group raised their target price on RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Susquehanna boosted their price target on RXO from $14.00 to $20.00 and gave the stock a “negative” rating in a research report on Thursday, August 15th. Finally, Barclays raised their price objective on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.00.

RXO Stock Up 0.6 %

NYSE:RXO opened at $25.70 on Friday. RXO, Inc. has a 52 week low of $16.94 and a 52 week high of $32.82. The stock’s fifty day moving average is $28.66 and its two-hundred day moving average is $23.75. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -285.56, a price-to-earnings-growth ratio of 12.47 and a beta of 1.35. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. Research analysts anticipate that RXO, Inc. will post 0.14 EPS for the current year.

About RXO

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.