First Trust Advisors LP Purchases 5,917 Shares of RXO, Inc. (NYSE:RXO)

First Trust Advisors LP increased its stake in shares of RXO, Inc. (NYSE:RXO) by 78.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,495 shares of the company’s stock after purchasing an additional 5,917 shares during the quarter. First Trust Advisors LP’s holdings in RXO were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of RXO by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after purchasing an additional 2,009,937 shares during the period. FIL Ltd lifted its position in shares of RXO by 10.4% in the fourth quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock valued at $150,857,000 after acquiring an additional 596,158 shares in the last quarter. Geode Capital Management LLC boosted its stake in RXO by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock worth $80,185,000 after purchasing an additional 307,492 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of RXO by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock valued at $51,138,000 after purchasing an additional 76,653 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on RXO in a research note on Friday, March 7th. They set a “hold” rating and a $19.00 target price for the company. Jefferies Financial Group dropped their price objective on shares of RXO from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. 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. Finally, Barclays decreased their target price on RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, RXO presently has a consensus rating of “Hold” and an average target price of $19.93.

RXO Stock Up 0.4 %

RXO stock opened at $14.49 on Friday. The business’s 50-day simple moving average is $16.00 and its 200 day simple moving average is $22.26. The company has a market cap of $2.38 billion, a PE ratio of -6.83, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. RXO, Inc. has a twelve month low of $12.19 and a twelve month high of $32.82. 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm posted ($0.03) EPS. RXO’s revenue for the quarter was up 57.0% compared to the same quarter last year. On average, research analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current year.

RXO 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.