RXO, Inc. (NYSE:RXO) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its stake in shares of RXO, Inc. (NYSE:RXO) by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,590 shares of the company’s stock after selling 14,830 shares during the period. Texas Permanent School Fund Corp owned 0.07% of RXO worth $2,290,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in RXO by 27.5% in the 4th quarter. Victory Capital Management Inc. now owns 38,479 shares of the company’s stock valued at $895,000 after purchasing an additional 8,295 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of RXO by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after buying an additional 93,885 shares during the period. Independent Advisor Alliance boosted its position in RXO by 26.0% during the fourth quarter. Independent Advisor Alliance now owns 29,576 shares of the company’s stock worth $688,000 after acquiring an additional 6,101 shares during the last quarter. Norges Bank purchased a new stake in RXO in the 4th quarter worth approximately $24,250,000. Finally, US Bancorp DE raised its holdings in RXO by 430.2% in the 4th quarter. US Bancorp DE now owns 45,309 shares of the company’s stock valued at $1,054,000 after acquiring an additional 36,764 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Price Performance

Shares of NYSE RXO opened at $25.89 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.17 and a quick ratio of 1.17. RXO, Inc. has a 1-year low of $16.94 and a 1-year high of $32.82. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -287.67, a PEG ratio of 12.46 and a beta of 1.35. The business has a 50-day moving average of $28.62 and a 200-day moving average of $23.83.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RXO shares. Susquehanna lifted their price objective on RXO from $14.00 to $20.00 and gave the company a “negative” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective 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. Barclays raised 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. Morgan Stanley increased their price target 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. Finally, TD Cowen boosted their price objective on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Two research 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.00.

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.