Jennison Associates LLC purchased a new stake in RXO, Inc. (NYSE:RXO - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,290 shares of the company's stock, valued at approximately $792,000.
Several other large investors have also recently added to or reduced their stakes in RXO. GAMMA Investing LLC boosted its holdings in shares of RXO by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock valued at $50,000 after buying an additional 510 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of RXO by 2.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company's stock worth $668,000 after acquiring an additional 575 shares in the last quarter. Arizona State Retirement System raised its stake in RXO by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 32,906 shares of the company's stock valued at $860,000 after purchasing an additional 751 shares during the period. KBC Group NV increased its holdings in shares of RXO by 28.1% in the 3rd quarter. KBC Group NV now owns 4,055 shares of the company's stock valued at $114,000 after purchasing an additional 890 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of RXO by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company's stock valued at $1,545,000 after buying an additional 1,100 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.
RXO stock opened at $28.36 on Friday. RXO, Inc. has a 1-year low of $18.75 and a 1-year high of $32.82. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.56 billion, a PE ratio of -14.32, a P/E/G ratio of 15.04 and a beta of 1.33. The business's 50-day moving average price is $28.02 and its two-hundred day moving average price is $26.36.
RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same quarter last year, the firm posted $0.05 earnings per share. RXO's revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that RXO, Inc. will post 0.12 earnings per share for the current year.
Several analysts have recently issued reports on the company. Susquehanna decreased their price target on RXO from $16.00 to $12.00 and set a "negative" rating for the company in a research note on Tuesday, November 12th. TD Cowen lifted their price target on shares of RXO from $23.00 to $28.00 and gave the company a "hold" rating in a research report on Thursday, August 8th. Benchmark reiterated a "hold" rating on shares of RXO in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of RXO from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Thursday, August 8th. Finally, Citigroup downgraded RXO from a "buy" rating to a "neutral" rating and set a $33.00 price target on the stock. in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $26.47.
Get Our Latest Research Report on 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.
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