The Manufacturers Life Insurance Company Increases Stock Holdings in RXO, Inc. (NYSE:RXO)

The Manufacturers Life Insurance Company increased its stake in RXO, Inc. (NYSE:RXO) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,867 shares of the company’s stock after purchasing an additional 2,423 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of RXO worth $1,722,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RXO. Swedbank AB bought a new position in RXO during the first quarter valued at approximately $76,982,000. MFN Partners Management LP grew its position in RXO by 19.8% during the first quarter. MFN Partners Management LP now owns 15,588,555 shares of the company’s stock valued at $340,922,000 after acquiring an additional 2,580,330 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in RXO by 1,459.0% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock valued at $42,574,000 after acquiring an additional 1,523,650 shares during the last quarter. Motley Fool Asset Management LLC grew its position in RXO by 287.9% during the first quarter. Motley Fool Asset Management LLC now owns 1,582,324 shares of the company’s stock valued at $34,605,000 after acquiring an additional 1,174,361 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in RXO by 200.1% during the second quarter. Natixis Advisors LLC now owns 363,511 shares of the company’s stock valued at $9,506,000 after acquiring an additional 242,388 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

RXO Price Performance

RXO opened at $28.06 on Friday. The stock has a 50-day moving average price of $27.76 and a 200-day moving average price of $24.58. 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 firm has a market cap of $3.89 billion, a PE ratio of -311.78, a P/E/G ratio of 13.27 and a beta of 1.34. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $32.82.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RXO. JPMorgan Chase & Co. raised their target price on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a report 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 report on Tuesday, July 16th. Citigroup assumed coverage on RXO in a research note on Wednesday. They issued a “buy” rating and a $33.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $31.00 price target on shares of RXO in a research note on Tuesday, September 17th. Finally, UBS Group raised their price target on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, RXO has a consensus rating of “Hold” and an average target price of $26.23.

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.