Royce & Associates LP Decreases Position in RXO, Inc. (NYSE:RXO)

Royce & Associates LP lowered its stake in shares of RXO, Inc. (NYSE:RXO) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,000 shares of the company’s stock after selling 4,000 shares during the quarter. Royce & Associates LP’s holdings in RXO were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UniSuper Management Pty Ltd purchased a new stake in RXO during the 1st quarter worth about $542,000. Boston Partners increased its stake in shares of RXO by 150.0% during the first quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after buying an additional 25,519 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in RXO by 225.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 108,847 shares of the company’s stock valued at $2,380,000 after acquiring an additional 75,395 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in RXO by 1,459.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock worth $42,574,000 after acquiring an additional 1,523,650 shares during the last quarter. Finally, Swedbank AB acquired a new position in RXO during the 1st quarter worth approximately $76,982,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RXO shares. Susquehanna decreased their price objective on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research report on Tuesday, November 12th. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Tuesday, November 12th. Oppenheimer restated an “outperform” rating and set a $31.00 target price on shares of RXO in a research note on Tuesday, September 17th. UBS Group increased their price target 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. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $31.00 price objective on shares of RXO in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, RXO currently has an average rating of “Hold” and an average target price of $26.47.

RXO Stock Performance

Shares of RXO stock opened at $27.43 on Wednesday. The stock’s 50-day moving average price is $27.88 and its 200 day moving average price is $26.24. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.41 billion, a PE ratio of -13.85, a price-to-earnings-growth ratio of 14.68 and a beta of 1.33. RXO, Inc. has a 52-week low of $18.75 and a 52-week high of $32.82.

RXO (NYSE:RXO) last released 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 positive return on equity of 1.64% and a negative net margin of 6.81%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $956.19 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts forecast that RXO, Inc. will post 0.12 EPS for the current year.

RXO Company Profile

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.