Maryland State Retirement & Pension System Has $786,000 Stock Position in Rxo Inc (NYSE:RXO)

Maryland State Retirement & Pension System reduced its position in shares of Rxo Inc (NYSE:RXO) by 12.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,159 shares of the company’s stock after selling 5,951 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RXO were worth $786,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Douglas Lane & Associates LLC raised its stake in RXO by 34.3% during the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock worth $68,589,000 after buying an additional 916,379 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of RXO by 15.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock worth $52,155,000 after purchasing an additional 355,255 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of RXO by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,024,887 shares of the company’s stock worth $48,275,000 after purchasing an additional 128,819 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of RXO by 14.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,954,407 shares of the company’s stock worth $46,593,000 after purchasing an additional 240,426 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of RXO by 24.8% in the fourth quarter. Wellington Management Group LLP now owns 1,952,884 shares of the company’s stock worth $46,557,000 after purchasing an additional 387,766 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on RXO. Susquehanna set a $12.00 price objective on RXO and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Stifel Nicolaus lowered their price objective on RXO from $24.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, May 8th. Barclays lowered their price objective on RXO from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley lowered their price objective on RXO from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Finally, Wall Street Zen raised RXO from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.93.

RXO Stock Performance

RXO stock opened at $15.13 on Wednesday. The firm has a market cap of $2.48 billion, a PE ratio of -7.00, a P/E/G ratio of 6.78 and a beta of 1.68. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $16.06 and a 200-day moving average of $17.15. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $31.98.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company earned $0.03 earnings per share. RXO’s revenue was up 52.6% compared to the same quarter last year. As a group, sell-side analysts expect that Rxo Inc will post 0.31 earnings per share for the current 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.