Texas Permanent School Fund Purchases New Stake in RXO, Inc. (NYSE:RXO)

Texas Permanent School Fund acquired a new position in shares of RXO, Inc. (NYSE:RXO – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 77,390 shares of the company’s stock, valued at approximately $1,331,000. Texas Permanent School Fund owned approximately 0.07% of RXO at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in RXO during the fourth quarter worth about $25,000. Antonetti Capital Management LLC purchased a new position in shares of RXO in the fourth quarter valued at $29,000. Shell Asset Management Co. acquired a new position in shares of RXO during the 4th quarter worth $30,000. Mendota Financial Group LLC purchased a new stake in shares of RXO in the 4th quarter worth about $49,000. Finally, Nisa Investment Advisors LLC acquired a new stake in RXO in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 9.85% of the company’s stock.

Analysts Set New Price Targets

RXO has been the topic of several recent research reports. Oppenheimer upped their price target on shares of RXO from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Cowen initiated coverage on RXO in a research report on Monday, February 27th. They set a “market perform” rating and a $22.00 price objective for the company. UBS Group lifted their price objective on RXO from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, February 9th. Benchmark initiated coverage on RXO in a research report on Tuesday, April 4th. They set a “hold” rating for the company. Finally, Cowen began coverage on RXO in a research report on Monday, February 27th. They set a “market perform” rating and a $22.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, RXO presently has a consensus rating of “Hold” and an average target price of $21.62.

RXO Stock Down 2.8 %

NYSE RXO opened at $18.88 on Friday. RXO, Inc. has a 12 month low of $14.75 and a 12 month high of $25.50. The company’s 50-day moving average is $19.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 1.25.

RXO (NYSE:RXO – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.07 billion. The firm’s quarterly revenue was down 22.9% on a year-over-year basis. On average, sell-side analysts forecast that RXO, Inc. will post 0.65 EPS for the current year.

RXO Profile

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RXO, Inc provides full truckload freight transportation brokering services through its proprietary digital marketplace in North America. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was founded in 2022 and is based in Charlotte, North Carolina.