Massachusetts Financial Services Co. MA Sells 204,868 Shares of RXO, Inc. (NYSE:RXO)

Massachusetts Financial Services Co. MA trimmed its position in RXO, Inc. (NYSE:RXO) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,548,855 shares of the company’s stock after selling 204,868 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.32% of RXO worth $40,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its stake in RXO by 0.8% in the first quarter. Illinois Municipal Retirement Fund now owns 69,190 shares of the company’s stock valued at $1,513,000 after buying an additional 543 shares during the period. Oppenheimer Asset Management Inc. raised its stake in RXO by 2.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock valued at $668,000 after acquiring an additional 575 shares during the period. Arizona State Retirement System raised its stake in RXO by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock valued at $860,000 after acquiring an additional 751 shares during the period. Louisiana State Employees Retirement System lifted its holdings in RXO by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company’s stock valued at $1,545,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its position in RXO by 2.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock worth $1,079,000 after purchasing an additional 1,109 shares during the period. 92.73% of the stock is owned by institutional investors.

RXO Trading Up 4.0 %

RXO opened at $27.10 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $32.82. The company has a 50-day simple moving average of $28.61 and a 200 day simple moving average of $23.85.

RXO (NYSE:RXO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The business had revenue of $930.00 million for the quarter, compared to analyst estimates of $934.14 million. During the same quarter last year, the business posted $0.08 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, research analysts predict that RXO, Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RXO. Susquehanna increased their price objective on shares of RXO from $14.00 to $20.00 and gave the company a “negative” rating in a research report on Thursday, August 15th. Benchmark reissued a “hold” rating on shares of RXO in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. 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. Finally, UBS Group boosted their price target on RXO from $22.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.00.

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.