Rhumbline Advisers Purchases 43,709 Shares of RXO, Inc. (NYSE:RXO)

Rhumbline Advisers grew its position in RXO, Inc. (NYSE:RXO) by 12.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 408,867 shares of the company’s stock after acquiring an additional 43,709 shares during the quarter. Rhumbline Advisers’ holdings in RXO were worth $9,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its position in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after purchasing an additional 510 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of RXO during the 3rd quarter valued at approximately $28,000. Nomura Asset Management Co. Ltd. raised its holdings in RXO by 68.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in RXO by 407.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after buying an additional 1,445 shares during the last quarter. Finally, KBC Group NV boosted its stake in RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after buying an additional 890 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RXO. Benchmark reissued a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research report on Tuesday, November 12th. Morgan Stanley dropped their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus reduced their price target on RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group dropped their price objective on RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, RXO presently has an average rating of “Hold” and a consensus price target of $26.46.

RXO Price Performance

RXO opened at $19.69 on Tuesday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -9.29, a PEG ratio of 4.55 and a beta of 1.53. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. RXO, Inc. has a 12-month low of $18.75 and a 12-month high of $32.82. The business’s fifty day simple moving average is $23.93 and its 200-day simple moving average is $26.69.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities research 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.