Swiss National Bank Cuts Stock Holdings in RXO, Inc. (NYSE:RXO)

Swiss National Bank decreased its stake in shares of RXO, Inc. (NYSE:RXO) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,600 shares of the company’s stock after selling 30,000 shares during the period. Swiss National Bank owned about 0.12% of RXO worth $5,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its position in RXO by 10.5% in the third quarter. Thrivent Financial for Lutherans now owns 107,817 shares of the company’s stock worth $3,019,000 after acquiring an additional 10,235 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of RXO by 6.8% in the third quarter. Mutual of America Capital Management LLC now owns 20,639 shares of the company’s stock worth $578,000 after purchasing an additional 1,318 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of RXO by 14.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,867,080 shares of the company’s stock worth $52,278,000 after purchasing an additional 239,000 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of RXO by 18.0% in the third quarter. Natixis Advisors LLC now owns 428,988 shares of the company’s stock worth $12,011,000 after purchasing an additional 65,477 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of RXO in the third quarter worth $231,000. Institutional investors own 92.73% of the company’s stock.

RXO Price Performance

RXO stock opened at $29.89 on Thursday. RXO, Inc. has a 12 month low of $18.75 and a 12 month high of $32.82. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $28.21 and a 200 day moving average price of $26.54. The stock has a market cap of $4.81 billion, a PE ratio of -15.10, a P/E/G ratio of 16.39 and a beta of 1.33.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $956.19 million. During the same period in the previous year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that RXO, Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RXO shares. Morgan Stanley increased their price objective on shares of RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 target price on shares of RXO in a research note on Monday, November 11th. UBS Group raised their target price on shares of RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 target price on shares of RXO in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus price target of $26.47.

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.