The Manufacturers Life Insurance Company Purchases 8,377 Shares of RXO, Inc. (NYSE:RXO)

The Manufacturers Life Insurance Company raised its holdings in shares of RXO, Inc. (NYSE:RXO) by 12.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,244 shares of the company’s stock after acquiring an additional 8,377 shares during the period. The Manufacturers Life Insurance Company’s holdings in RXO were worth $2,079,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of RXO by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after purchasing an additional 510 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in RXO in the second quarter worth $112,000. KBC Group NV boosted its position in RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock valued at $114,000 after buying an additional 890 shares during the period. City Holding Co. grew its stake in shares of RXO by 57.9% during the third quarter. City Holding Co. now owns 5,241 shares of the company’s stock valued at $147,000 after buying an additional 1,921 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in shares of RXO by 29.6% in the third quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock worth $149,000 after buying an additional 1,212 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RXO shares. Wells Fargo & Company restated an “equal weight” rating and set a $31.00 target price on shares of RXO in a report on Monday, November 11th. Benchmark restated a “hold” rating on shares of RXO in a report on Tuesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $31.00 target price on shares of RXO in a research note on Tuesday, September 17th. Citigroup cut shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Tuesday, November 12th. Finally, Susquehanna cut their price target on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.47.

RXO Stock Up 0.7 %

Shares of NYSE:RXO opened at $28.55 on Monday. The firm has a market capitalization of $4.59 billion, a P/E ratio of -14.42, a P/E/G ratio of 15.79 and a beta of 1.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a 50 day moving average price of $28.61 and a 200-day moving average price of $27.03. RXO, Inc. has a 52-week low of $18.75 and a 52-week high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. As a group, equities research analysts anticipate that RXO, Inc. will post 0.12 EPS for the current fiscal 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.