RXO, Inc. (NYSE:RXO) Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of RXO, Inc. (NYSE:RXO) by 71.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 272,062 shares of the company’s stock after purchasing an additional 113,685 shares during the quarter. JPMorgan Chase & Co. owned 0.17% of RXO worth $7,618,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC grew its position in RXO by 439.5% in the 3rd quarter. FMR LLC now owns 47,837 shares of the company’s stock worth $1,339,000 after purchasing an additional 38,970 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of RXO by 20.7% in the second quarter. Primecap Management Co. CA now owns 1,020,900 shares of the company’s stock valued at $26,697,000 after buying an additional 175,300 shares in the last quarter. Citigroup Inc. raised its position in shares of RXO by 132.4% during the third quarter. Citigroup Inc. now owns 196,748 shares of the company’s stock worth $5,509,000 after purchasing an additional 112,073 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in RXO by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock valued at $57,915,000 after buying an additional 136,886 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in RXO in the 2nd quarter worth approximately $19,965,000. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Price Performance

NYSE:RXO opened at $24.94 on Wednesday. The firm has a market cap of $4.01 billion, a PE ratio of -12.60, a price-to-earnings-growth ratio of 15.82 and a beta of 1.52. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. RXO, Inc. has a 12 month low of $18.75 and a 12 month high of $32.82. The company’s 50-day moving average price is $27.02 and its two-hundred day moving average price is $27.82.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $956.19 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that RXO, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup lowered 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. Oppenheimer restated an “outperform” rating and set a $31.00 price target on shares of RXO in a report on Tuesday, September 17th. Susquehanna lowered their price objective on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $29.00 price target on shares of RXO in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.77.

About RXO

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.