New York State Teachers Retirement System Sells 2,759 Shares of RXO, Inc. (NYSE:RXO)

New York State Teachers Retirement System trimmed its stake in shares of RXO, Inc. (NYSE:RXO) by 2.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 123,069 shares of the company’s stock after selling 2,759 shares during the period. New York State Teachers Retirement System’s holdings in RXO were worth $2,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Douglas Lane & Associates LLC increased its stake in shares of RXO by 10.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock valued at $59,997,000 after buying an additional 248,883 shares during the period. Nisa Investment Advisors LLC boosted its stake in RXO by 65.6% in the third quarter. Nisa Investment Advisors LLC now owns 6,863 shares of the company’s stock valued at $135,000 after acquiring an additional 2,718 shares during the last quarter. Barclays PLC lifted its stake in shares of RXO by 299.9% in the 3rd quarter. Barclays PLC now owns 270,766 shares of the company’s stock valued at $5,343,000 after purchasing an additional 203,052 shares during the period. GSA Capital Partners LLP boosted its position in shares of RXO by 325.2% in the 3rd quarter. GSA Capital Partners LLP now owns 55,077 shares of the company’s stock worth $1,087,000 after purchasing an additional 42,123 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its stake in shares of RXO by 151.5% during the third quarter. Motley Fool Asset Management LLC now owns 403,658 shares of the company’s stock worth $7,964,000 after purchasing an additional 243,137 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

RXO has been the topic of a number of recent analyst reports. TD Cowen raised their target price on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a report on Friday, February 9th. Oppenheimer decreased their price target on shares of RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. Stifel Nicolaus raised their price objective on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Susquehanna lifted their price objective on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Finally, Bank of America cut RXO from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $22.00 in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, RXO presently has a consensus rating of “Hold” and an average price target of $20.23.

Insider Buying and Selling

In related news, major shareholder Mfn Partners, Lp purchased 919,720 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $21.04 per share, for a total transaction of $19,350,908.80. Following the completion of the purchase, the insider now directly owns 14,675,369 shares in the company, valued at $308,769,763.76. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

RXO Price Performance

NYSE RXO opened at $20.24 on Tuesday. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $24.33. The firm’s 50 day moving average is $21.10 and its 200-day moving average is $20.87. The company has a market capitalization of $2.38 billion, a PE ratio of 506.13, a price-to-earnings-growth ratio of 7.25 and a beta of 1.08. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $978.00 million for the quarter, compared to analysts’ expectations of $996.33 million. RXO had a net margin of 0.10% and a return on equity of 6.11%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. Equities research analysts anticipate that RXO, Inc. will post 0.22 earnings per share for the current fiscal year.

RXO Company Profile

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.