First Eagle Investment Management LLC Makes New $4.55 Million Investment in RXO, Inc. (NYSE:RXO)

First Eagle Investment Management LLC acquired a new stake in shares of RXO, Inc. (NYSE:RXO) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 173,875 shares of the company’s stock, valued at approximately $4,547,000.

Other large investors have also modified their holdings of the company. MFN Partners Management LP boosted its stake in RXO by 11.0% during the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after buying an additional 1,722,301 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of RXO by 20.7% during the 2nd quarter. Primecap Management Co. CA now owns 1,020,900 shares of the company’s stock valued at $26,697,000 after acquiring an additional 175,300 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in RXO by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock valued at $53,153,000 after acquiring an additional 176,041 shares during the period. WINTON GROUP Ltd raised its position in RXO by 57.3% in the second quarter. WINTON GROUP Ltd now owns 300,255 shares of the company’s stock worth $7,852,000 after purchasing an additional 109,349 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in RXO by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock worth $668,000 after purchasing an additional 575 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on RXO from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Jefferies Financial Group cut their price objective on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Morgan Stanley upped their target price on shares of RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $31.00 price target on shares of RXO in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus target price of $26.00.

RXO Stock Performance

RXO stock opened at $25.95 on Friday. The stock has a market capitalization of $3.05 billion, a PE ratio of -288.33, a price-to-earnings-growth ratio of 12.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. The company has a 50 day moving average price of $28.60 and a 200 day moving average price of $23.87. RXO, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $32.82.

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

RXO Company 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.