Truist Financial Corp Grows Position in RXO, Inc. (NYSE:RXO)

Truist Financial Corp grew its stake in shares of RXO, Inc. (NYSE:RXO) by 10.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,871 shares of the company’s stock after purchasing an additional 3,120 shares during the period. Truist Financial Corp’s holdings in RXO were worth $760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after buying an additional 602,741 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of RXO by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock valued at $85,563,000 after acquiring an additional 441,994 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of RXO by 27.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company’s stock worth $56,629,000 after acquiring an additional 508,330 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of RXO by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock worth $57,915,000 after acquiring an additional 136,886 shares during the period. Finally, Fred Alger Management LLC increased its stake in RXO by 31.9% in the 3rd quarter. Fred Alger Management LLC now owns 1,751,114 shares of the company’s stock valued at $49,031,000 after purchasing an additional 423,822 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RXO has been the topic of a number of research analyst reports. Morgan Stanley decreased their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus decreased their price objective on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group dropped their target price on shares of RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Susquehanna cut their target price on shares of RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research report on Tuesday, November 12th. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus target price of $26.46.

RXO Trading Up 2.9 %

Shares of RXO stock opened at $20.48 on Monday. RXO, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $32.82. The firm has a market cap of $3.29 billion, a PE ratio of -9.66, a P/E/G ratio of 4.55 and a beta of 1.53. The business’s fifty day moving average is $23.51 and its two-hundred day moving average is $26.47. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO) last released its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current 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.