First Eagle Investment Management LLC Makes New Investment in RXO, Inc. (NYSE:RXO)

First Eagle Investment Management LLC bought a new stake in RXO, Inc. (NYSE:RXO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 173,875 shares of the company’s stock, valued at approximately $4,547,000. First Eagle Investment Management LLC owned 0.15% of RXO at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in RXO by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock worth $43,489,000 after buying an additional 93,885 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in RXO by 2.6% during the first quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock valued at $57,871,000 after purchasing an additional 66,757 shares during the last quarter. Norges Bank purchased a new position in RXO in the fourth quarter valued at about $24,250,000. GSA Capital Partners LLP increased its position in RXO by 433.8% in the 1st quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock worth $1,225,000 after purchasing an additional 45,510 shares during the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of RXO during the 1st quarter worth about $542,000. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on RXO. 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. Morgan Stanley raised their price target on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. TD Cowen raised their target price on RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Finally, Barclays boosted their price target on RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, RXO presently has an average rating of “Hold” and a consensus target price of $26.00.

RXO Price Performance

Shares of NYSE:RXO opened at $25.95 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. The business has a 50 day moving average price of $28.60 and a 200 day moving average price of $23.87. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -288.33, a PEG ratio of 12.60 and a beta of 1.35. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $32.82.

RXO (NYSE:RXO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. RXO had a positive return on equity of 2.22% and a negative net margin of 0.55%. The company had revenue of $930.00 million during the quarter, compared to analysts’ expectations of $934.14 million. RXO’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. Research analysts predict that RXO, Inc. will post 0.14 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.