Fmr LLC Buys 38,970 Shares of RXO, Inc. (NYSE:RXO)

Fmr LLC boosted its holdings in shares of RXO, Inc. (NYSE:RXO) by 439.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,837 shares of the company’s stock after purchasing an additional 38,970 shares during the quarter. Fmr LLC’s holdings in RXO were worth $1,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RXO. GAMMA Investing LLC increased its stake in RXO by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after acquiring an additional 510 shares during the last quarter. KBC Group NV increased its stake in RXO by 28.1% in the 3rd quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after acquiring an additional 890 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in RXO in the 2nd quarter worth approximately $112,000. City Holding Co. increased its stake in RXO by 57.9% in the 3rd quarter. City Holding Co. now owns 5,241 shares of the company’s stock worth $147,000 after acquiring an additional 1,921 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its stake in RXO by 29.6% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock worth $149,000 after acquiring an additional 1,212 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of RXO in a research note on Monday, November 18th. 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. Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 target price on shares of RXO in a report on Monday, November 11th. Citigroup cut RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a report on Tuesday, November 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.47.

RXO Price Performance

Shares of RXO stock opened at $27.29 on Monday. RXO, Inc. has a twelve month low of $18.75 and a twelve month high of $32.82. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -13.78, a P/E/G ratio of 15.82 and a beta of 1.32. The stock has a fifty day simple moving average of $28.70 and a two-hundred day simple moving average of $27.32. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.

RXO (NYSE:RXO) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share 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 period in the prior year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts predict that RXO, Inc. will post 0.12 EPS for the current fiscal year.

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.