Bank of New York Mellon Corp Raises Stock Holdings in RXO, Inc. (NYSE:RXO)

Bank of New York Mellon Corp grew its holdings in shares of RXO, Inc. (NYSE:RXO) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 939,846 shares of the company’s stock after purchasing an additional 64,522 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of RXO worth $22,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RXO. Amalgamated Bank increased its position in shares of RXO by 12.8% during the 3rd quarter. Amalgamated Bank now owns 40,481 shares of the company’s stock valued at $1,133,000 after purchasing an additional 4,609 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of RXO by 11.3% during the 3rd quarter. Principal Financial Group Inc. now owns 650,222 shares of the company’s stock valued at $18,206,000 after purchasing an additional 66,159 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of RXO by 1,772.4% during the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock valued at $21,314,000 after purchasing an additional 720,574 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of RXO by 31.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,513 shares of the company’s stock valued at $938,000 after purchasing an additional 7,976 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of RXO by 5.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,245 shares of the company’s stock valued at $791,000 after purchasing an additional 1,520 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on RXO shares. Stifel Nicolaus cut their price objective on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group cut their price objective on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Finally, Barclays cut their price objective on RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.93.

RXO Trading Down 3.2 %

RXO stock opened at $19.18 on Tuesday. RXO, Inc. has a 1-year low of $18.75 and a 1-year high of $32.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -9.04, a PEG ratio of 4.55 and a beta of 1.67. The business has a 50 day simple moving average of $23.03 and a two-hundred day simple moving average of $26.09.

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

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.