Wellington Management Group LLP Raises Position in RXO, Inc. (NYSE:RXO)

Wellington Management Group LLP grew its position in shares of RXO, Inc. (NYSE:RXO) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,777,512 shares of the company’s stock after buying an additional 138,365 shares during the quarter. Wellington Management Group LLP owned 1.52% of RXO worth $41,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in RXO during the 4th quarter valued at $27,000. Ramirez Asset Management Inc. bought a new stake in RXO in the 3rd quarter worth about $45,000. TFO Wealth Partners LLC raised its position in RXO by 106,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,208 shares of the company’s stock worth $70,000 after buying an additional 3,205 shares during the last quarter. International Assets Investment Management LLC lifted its stake in RXO by 2,008.5% during the 4th quarter. International Assets Investment Management LLC now owns 5,187 shares of the company’s stock valued at $121,000 after acquiring an additional 4,941 shares during the period. Finally, Life Planning Partners Inc purchased a new stake in shares of RXO during the 4th quarter valued at about $154,000. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stephens restated an “equal weight” rating and set a $22.00 price objective on shares of RXO in a research report on Monday, May 6th. Susquehanna lifted their price objective on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. TD Cowen increased their target price on RXO from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Raymond James initiated coverage on RXO in a research note on Wednesday, May 15th. They set a “market perform” rating for the company. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.90.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp acquired 105,065 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $20.07 per share, with a total value of $2,108,654.55. Following the acquisition, the insider now directly owns 17,280,434 shares in the company, valued at approximately $346,818,310.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have acquired 1,128,060 shares of company stock valued at $22,099,090. Corporate insiders own 1.80% of the company’s stock.

RXO Stock Performance

Shares of NYSE RXO opened at $20.21 on Monday. The stock has a market cap of $2.38 billion, a PE ratio of -224.56, a price-to-earnings-growth ratio of 7.72 and a beta of 1.27. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $24.33. The firm has a fifty day moving average price of $20.19 and a 200-day moving average price of $21.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Equities analysts anticipate that RXO, Inc. will post 0.17 earnings per share for the current fiscal 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.