RXO, Inc. (NYSE:RXO) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of RXO, Inc. (NYSE:RXO) by 1,772.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 761,230 shares of the company’s stock after buying an additional 720,574 shares during the period. Victory Capital Management Inc.’s holdings in RXO were worth $21,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. MFN Partners Management LP increased its holdings in shares of RXO by 11.0% during the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after buying an additional 1,722,301 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of RXO by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock worth $290,750,000 after buying an additional 45,977 shares during the last quarter. Swedbank AB acquired a new stake in shares of RXO during the 1st quarter worth $76,982,000. Douglas Lane & Associates LLC increased its holdings in shares of 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 increased its holdings in shares of RXO by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock worth $53,153,000 after buying an additional 176,041 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on RXO shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $29.00 price target on shares of RXO in a research report on Monday. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 price target on shares of RXO in a research report on Monday, November 11th. UBS Group upped their price target on shares of RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, RXO presently has a consensus rating of “Hold” and a consensus price target of $26.47.

RXO Stock Performance

Shares of RXO stock opened at $27.12 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. RXO, Inc. has a one year low of $18.75 and a one year high of $32.82. The company’s 50-day simple moving average is $27.85 and its 200-day simple moving average is $26.19. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of -13.70, a PEG ratio of 14.68 and a beta of 1.33.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. During the same quarter last year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts anticipate that RXO, Inc. will post 0.12 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.