Truist Financial Corp Sells 939 Shares of RXO, Inc. (NYSE:RXO)

Truist Financial Corp lowered its holdings in RXO, Inc. (NYSE:RXO) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,465 shares of the company’s stock after selling 939 shares during the quarter. Truist Financial Corp’s holdings in RXO were worth $666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RXO. Douglas Lane & Associates LLC raised its stake in RXO by 2.6% in the first quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock worth $57,871,000 after buying an additional 66,757 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of RXO by 433.8% in the 1st quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock worth $1,225,000 after buying an additional 45,510 shares during the period. UniSuper Management Pty Ltd purchased a new position in RXO during the 1st quarter valued at about $542,000. Boston Partners grew its holdings in RXO by 150.0% in the first quarter. Boston Partners now owns 42,526 shares of the company’s stock worth $930,000 after purchasing an additional 25,519 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of RXO by 225.4% during 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 purchasing an additional 75,395 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Price Performance

NYSE RXO opened at $29.14 on Wednesday. RXO, Inc. has a 52 week low of $16.94 and a 52 week high of $32.82. The firm has a market capitalization of $3.43 billion, a P/E ratio of -323.78, a PEG ratio of 12.47 and a beta of 1.34. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $27.76 and a 200-day moving average price of $24.80.

RXO (NYSE:RXO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $930.00 million during the quarter, compared to the consensus estimate of $934.14 million. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 EPS. Equities research analysts anticipate that RXO, Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RXO shares. TD Cowen increased their target price on RXO from $23.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. UBS Group upped their target price on shares of RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of RXO from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Jefferies Financial Group decreased their price objective on shares of RXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Morgan Stanley increased their target price on RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.23.

RXO 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.