Teacher Retirement System of Texas Takes $292,000 Position in Rxo Inc (NYSE:RXO)

Teacher Retirement System of Texas purchased a new stake in Rxo Inc (NYSE:RXO) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,262 shares of the company’s stock, valued at approximately $292,000.

Several other large investors have also modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of RXO by 1.8% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company’s stock valued at $712,000 after buying an additional 518 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of RXO by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 47,110 shares of the company’s stock valued at $1,123,000 after buying an additional 747 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of RXO by 52.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company’s stock valued at $52,000 after buying an additional 945 shares during the period. Swiss National Bank raised its holdings in shares of RXO by 0.6% in the 4th quarter. Swiss National Bank now owns 201,800 shares of the company’s stock valued at $4,811,000 after buying an additional 1,200 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in shares of RXO by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 115,904 shares of the company’s stock valued at $2,214,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RXO shares. JPMorgan Chase & Co. cut their price objective on RXO from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, July 8th. The Goldman Sachs Group cut their price objective on RXO from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Morgan Stanley cut their price objective on RXO from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, July 7th. Wells Fargo & Company cut their price target on RXO from $20.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Truist Financial cut their price target on RXO from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.87.

RXO Trading Down 2.6%

NYSE:RXO opened at $16.17 on Friday. The stock has a 50-day simple moving average of $16.13 and a 200-day simple moving average of $18.31. The stock has a market cap of $2.65 billion, a P/E ratio of -7.45, a P/E/G ratio of 8.11 and a beta of 1.69. Rxo Inc has a 1 year low of $12.19 and a 1 year high of $32.82. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.30 and a current ratio of 1.30.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.51 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.94%. The company’s revenue was up 57.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share. As a group, analysts anticipate that Rxo Inc will post 0.31 earnings per share 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.