Thrivent Financial for Lutherans Lowers Stock Holdings in RXO, Inc. (NYSE:RXO)

Thrivent Financial for Lutherans cut its stake in shares of RXO, Inc. (NYSE:RXO) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,582 shares of the company’s stock after selling 3,940 shares during the period. Thrivent Financial for Lutherans’ holdings in RXO were worth $2,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MFN Partners Management LP increased its holdings in shares of RXO by 11.0% in the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after purchasing an additional 1,722,301 shares during the period. Vanguard Group Inc. increased its stake in RXO by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock valued at $290,750,000 after buying an additional 45,977 shares during the period. Swedbank AB acquired a new position in RXO in the 1st quarter valued at $76,982,000. Douglas Lane & Associates LLC raised its position in RXO by 2.0% during the 2nd quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company’s stock worth $70,566,000 after buying an additional 52,378 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of RXO by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock worth $53,153,000 after acquiring an additional 176,041 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Trading Up 1.7 %

NYSE:RXO opened at $28.00 on Tuesday. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $32.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $28.30 and a 200-day simple moving average of $24.23. The company has a market capitalization of $3.29 billion, a PE ratio of -311.11, a price-to-earnings-growth ratio of 13.22 and a beta of 1.35.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $930.00 million during 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 firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. On average, equities research analysts expect that RXO, Inc. will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

RXO has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Morgan Stanley raised their price target on RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Oppenheimer reaffirmed an “outperform” rating and set a $31.00 price objective on shares of RXO in a report on Tuesday, September 17th. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.67.

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.