Strs Ohio Decreases Position in RXO, Inc. (NYSE:RXO)

Strs Ohio cut its stake in shares of RXO, Inc. (NYSE:RXO) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,900 shares of the company’s stock after selling 6,100 shares during the period. Strs Ohio’s holdings in RXO were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its stake in shares of RXO by 290.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock valued at $17,142,000 after buying an additional 646,540 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of RXO by 154.9% during the third quarter. 683 Capital Management LLC now owns 650,000 shares of the company’s stock valued at $12,824,000 after buying an additional 395,000 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of RXO by 10.7% during the fourth 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 last quarter. 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 valued at $7,964,000 after buying an additional 243,137 shares during the last quarter. Finally, Fred Alger Management LLC grew its stake in shares of RXO by 18.9% during the third quarter. Fred Alger Management LLC now owns 1,452,879 shares of the company’s stock valued at $28,665,000 after buying an additional 230,664 shares during the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at RXO

In related news, major shareholder Mfn Partners, Lp bought 747,424 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were acquired at an average price of $20.25 per share, with a total value of $15,135,336.00. Following the transaction, the insider now owns 13,755,649 shares of the company’s stock, valued at $278,551,892.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 2,578,268 shares of company stock valued at $52,301,046. 1.50% of the stock is currently owned by corporate insiders.

RXO Stock Up 2.1 %

Shares of NYSE RXO opened at $19.91 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.34 billion, a PE ratio of 497.87, a price-to-earnings-growth ratio of 6.86 and a beta of 1.08. The stock’s fifty day simple moving average is $20.89 and its two-hundred day simple moving average is $20.88. RXO, Inc. has a 12-month low of $16.94 and a 12-month high of $24.33.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RXO shares. Susquehanna upped 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. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Friday, April 19th. Oppenheimer dropped their price objective on RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 13th. TD Cowen increased their price objective on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Finally, Bank of America cut RXO from a “buy” rating to a “neutral” rating and dropped their price objective 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, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, RXO has an average rating of “Hold” and a consensus price target of $20.23.

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.