Raymond James & Associates Cuts Stake in RXO, Inc. (NYSE:RXO)

Raymond James & Associates reduced its holdings in shares of RXO, Inc. (NYSE:RXO) by 5.9% during the fourth quarter, Holdings Channel reports. The fund owned 91,509 shares of the company’s stock after selling 5,748 shares during the period. Raymond James & Associates’ holdings in RXO were worth $2,128,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RXO. BlackRock Inc. boosted its holdings in RXO by 16.3% during the 2nd quarter. BlackRock Inc. now owns 18,527,587 shares of the company’s stock valued at $420,020,000 after acquiring an additional 2,595,713 shares during the period. State Street Corp boosted its stake in shares of RXO by 15.7% during the second quarter. State Street Corp now owns 4,509,809 shares of the company’s stock valued at $102,237,000 after purchasing an additional 610,359 shares during the period. Douglas Lane & Associates LLC grew its holdings in shares of RXO by 31.2% in the third quarter. Douglas Lane & Associates LLC now owns 2,330,507 shares of the company’s stock worth $45,981,000 after purchasing an additional 554,078 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RXO by 34.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,059,826 shares of the company’s stock worth $40,453,000 after purchasing an additional 532,311 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of RXO by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after buying an additional 23,497 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Mfn Partners, Lp purchased 747,424 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were purchased at an average cost of $20.25 per share, with a total value of $15,135,336.00. Following the transaction, the insider now directly owns 13,755,649 shares in the company, valued at approximately $278,551,892.25. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Vertical Research lowered shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Wednesday, January 10th. Stifel Nicolaus raised their target price on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a report on Thursday, February 8th. TD Cowen increased their price objective on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a report on Friday, February 9th. Finally, Susquehanna boosted their target price on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research note on Monday, March 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and a consensus price target of $20.23.

RXO Trading Up 1.2 %

NYSE RXO opened at $20.50 on Wednesday. The firm has a market capitalization of $2.41 billion, a PE ratio of 512.63, a P/E/G ratio of 7.25 and a beta of 1.08. The stock’s 50 day moving average is $21.07 and its 200 day moving average is $20.87. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33. 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 released its earnings results on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. RXO had a net margin of 0.10% and a return on equity of 6.11%. The firm had revenue of $978.00 million for the quarter, compared to the consensus estimate of $996.33 million. During the same period in the prior year, the firm earned $0.28 EPS. The company’s revenue was down 12.7% compared to the same quarter last year. Research analysts forecast that RXO, Inc. will post 0.22 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.