Raymond James Financial Inc. Acquires New Stake in RXO, Inc. (NYSE:RXO)

Raymond James Financial Inc. acquired a new position in shares of RXO, Inc. (NYSE:RXO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 66,624 shares of the company’s stock, valued at approximately $1,588,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Zimmer Partners LP purchased a new position in shares of RXO during the 3rd quarter worth $22,680,000. Franklin Resources Inc. purchased a new position in RXO during the third quarter worth about $22,344,000. State Street Corp boosted its stake in RXO by 13.3% in the 3rd 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 during the last quarter. Barclays PLC grew its holdings in RXO by 185.5% in the 3rd quarter. Barclays PLC now owns 908,873 shares of the company’s stock valued at $25,449,000 after buying an additional 590,530 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased 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 valued at $56,629,000 after acquiring an additional 508,330 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Performance

Shares of RXO stock opened at $18.93 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The firm’s 50-day simple moving average is $21.05 and its 200-day simple moving average is $25.09. RXO, Inc. has a 1 year low of $17.50 and a 1 year high of $32.82. The firm has a market cap of $3.09 billion, a PE ratio of -8.93, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (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%. Equities analysts forecast that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on RXO. The Goldman Sachs Group decreased their target price on shares of RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group lowered their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Morgan Stanley cut 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. Benchmark reiterated a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Finally, Susquehanna dropped their price target on RXO from $18.00 to $13.00 and set a “negative” rating for the company in a research note on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.33.

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.