State of New Jersey Common Pension Fund D Sells 11,576 Shares of RXO, Inc. (NYSE:RXO)

State of New Jersey Common Pension Fund D lowered its position in RXO, Inc. (NYSE:RXO) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,246 shares of the company’s stock after selling 11,576 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in RXO were worth $2,820,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of RXO by 290.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock worth $17,142,000 after buying an additional 646,540 shares in the last quarter. 683 Capital Management LLC raised its holdings in shares of RXO by 154.9% in the 3rd quarter. 683 Capital Management LLC now owns 650,000 shares of the company’s stock worth $12,824,000 after buying an additional 395,000 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings 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 worth $59,997,000 after buying an additional 248,883 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of RXO by 151.5% in the 3rd quarter. Motley Fool Asset Management LLC now owns 403,658 shares of the company’s stock worth $7,964,000 after buying an additional 243,137 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of RXO by 18.9% in the 3rd quarter. Fred Alger Management LLC now owns 1,452,879 shares of the company’s stock worth $28,665,000 after buying an additional 230,664 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Stock Up 0.2 %

Shares of RXO opened at $19.40 on Tuesday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 485.00, a PEG ratio of 6.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The business’s fifty day moving average price is $20.72 and its two-hundred day moving average price is $20.89. RXO, Inc. has a 52 week low of $16.94 and a 52 week high of $24.33.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $978.00 million for the quarter, compared to analyst estimates of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. On average, analysts predict that RXO, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RXO. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Wednesday, January 10th. Susquehanna increased their target price on RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. TD Cowen increased 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 dropped their price target on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. Finally, Stifel Nicolaus raised their price target on RXO from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.23.

Insider Buying and Selling at RXO

In related news, major shareholder Mfn Partners, Lp purchased 919,720 shares of RXO stock in a transaction dated Thursday, February 8th. The shares were acquired at an average cost of $21.04 per share, for a total transaction of $19,350,908.80. Following the transaction, the insider now directly owns 14,675,369 shares of the company’s stock, valued at $308,769,763.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have bought 2,689,717 shares of company stock worth $54,468,072. Insiders own 1.80% of the company’s stock.

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.