Illinois Municipal Retirement Fund Increases Stock Position in RXO, Inc. (NYSE:RXO)

Illinois Municipal Retirement Fund grew its position in shares of RXO, Inc. (NYSE:RXO) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,303 shares of the company’s stock after purchasing an additional 8,528 shares during the period. Illinois Municipal Retirement Fund’s holdings in RXO were worth $1,819,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RXO. FMR LLC boosted its stake in RXO by 439.5% during the third quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after buying an additional 38,970 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of RXO during the 4th quarter valued at approximately $2,004,000. JPMorgan Chase & Co. boosted its position in shares of RXO by 71.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 272,062 shares of the company’s stock valued at $7,618,000 after acquiring an additional 113,685 shares during the last quarter. Tectonic Advisors LLC bought a new stake in RXO in the fourth quarter worth $1,066,000. Finally, Citigroup Inc. raised its stake in RXO by 132.4% during the third quarter. Citigroup Inc. now owns 196,748 shares of the company’s stock valued at $5,509,000 after purchasing an additional 112,073 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Stock Performance

Shares of RXO stock opened at $20.48 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $23.51 and its two-hundred day moving average is $26.48. RXO, Inc. has a 52 week low of $18.75 and a 52 week high of $32.82. The company has a market capitalization of $3.29 billion, a PE ratio of -9.66, a price-to-earnings-growth ratio of 4.55 and a beta of 1.53.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, analysts expect that RXO, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on RXO. Citigroup cut shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Tuesday, November 12th. Stifel Nicolaus dropped their price target on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their price objective on RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Finally, Susquehanna dropped their target price on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, RXO presently has a consensus rating of “Hold” and an average price target of $26.46.

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.