Raymond James Financial Services Advisors Inc. Sells 665 Shares of RXO, Inc. (NYSE:RXO)

Raymond James Financial Services Advisors Inc. trimmed its stake in RXO, Inc. (NYSE:RXO) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 23,083 shares of the company’s stock after selling 665 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in RXO were worth $537,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. bought a new position in shares of RXO in the fourth quarter worth approximately $26,000. Allspring Global Investments Holdings LLC increased its position in shares of RXO by 6,329.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of RXO in the fourth quarter worth approximately $39,000. Ramirez Asset Management Inc. bought a new position in shares of RXO in the third quarter worth approximately $45,000. Finally, Resources Management Corp CT ADV increased its position in shares of RXO by 7,985.7% in the second quarter. Resources Management Corp CT ADV now owns 2,830 shares of the company’s stock worth $64,000 after purchasing an additional 2,795 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other RXO news, major shareholder Mfn Partners, Lp purchased 919,720 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average price of $21.04 per share, with a total value of $19,350,908.80. Following the completion of the purchase, the insider now directly owns 14,675,369 shares of the company’s stock, valued at approximately $308,769,763.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 1,708,268 shares of company stock valued at $35,318,646 over the last quarter. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

RXO has been the topic of a number of recent research reports. Stifel Nicolaus increased their price target on shares of RXO from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Oppenheimer reduced their price target on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 13th. Susquehanna increased their price target on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Vertical Research cut shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Wednesday, January 10th. Finally, Bank of America cut shares of 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 research report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, RXO presently has an average rating of “Hold” and a consensus target price of $20.23.

RXO Stock Down 1.6 %

Shares of RXO stock opened at $18.93 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $24.33. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 473.37, a P/E/G ratio of 7.21 and a beta of 1.08. The company’s 50 day moving average price is $20.97 and its 200-day moving average price is $20.85.

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

RXO 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.