Canada Pension Plan Investment Board Makes New Investment in RXO, Inc. (NYSE:RXO)

Canada Pension Plan Investment Board purchased a new stake in RXO, Inc. (NYSE:RXO) during the second quarter, HoldingsChannel.com reports. The fund purchased 4,300 shares of the company’s stock, valued at approximately $112,000.

A number of other institutional investors also recently modified their holdings of RXO. Norges Bank bought a new stake in shares of RXO during the 4th quarter worth $24,250,000. US Bancorp DE lifted its position in RXO by 430.2% during the 4th quarter. US Bancorp DE now owns 45,309 shares of the company’s stock worth $1,054,000 after acquiring an additional 36,764 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in RXO during the fourth quarter valued at about $1,399,000. TFO Wealth Partners LLC grew its position in shares of RXO by 106,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock valued at $70,000 after purchasing an additional 3,205 shares during the last quarter. Finally, Rathbones Group PLC bought a new position in shares of RXO in the fourth quarter worth about $225,000. Institutional investors own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RXO. Morgan Stanley increased their target price on RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Oppenheimer reissued an “outperform” rating and issued a $31.00 price objective on shares of RXO in a research report on Tuesday, September 17th. Barclays boosted their target price on shares of RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Susquehanna reduced their price target on shares of RXO from $20.00 to $16.00 and set a “negative” rating for the company in a report on Thursday. Finally, TD Cowen boosted their price objective on shares of RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, RXO presently has an average rating of “Hold” and an average target price of $25.67.

RXO Trading Up 1.0 %

RXO stock opened at $27.53 on Friday. RXO, Inc. has a 1-year low of $16.94 and a 1-year high of $32.82. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $28.34 and its 200-day moving average is $24.15. The firm has a market cap of $3.82 billion, a P/E ratio of -305.89, a P/E/G ratio of 13.22 and a beta of 1.35.

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