JPMorgan Chase & Co. Buys 303,224 Shares of RXO, Inc. (NYSE:RXO)

JPMorgan Chase & Co. lifted its stake in shares of RXO, Inc. (NYSE:RXO) by 111.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 575,286 shares of the company’s stock after acquiring an additional 303,224 shares during the quarter. JPMorgan Chase & Co. owned about 0.36% of RXO worth $13,715,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after acquiring an additional 510 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of RXO during the 3rd quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in RXO by 228.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock valued at $30,000 after purchasing an additional 868 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in RXO by 407.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after buying an additional 1,445 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

RXO has been the subject of several research reports. Citigroup reduced their price objective on RXO from $23.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on shares of RXO from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Oppenheimer cut shares of RXO from an “outperform” rating to a “market perform” rating in a research note on Friday, April 4th. Finally, Susquehanna lowered their price target on RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research note on Wednesday, March 26th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.73.

RXO Price Performance

Shares of RXO stock opened at $13.62 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The stock’s fifty day simple moving average is $18.83 and its 200 day simple moving average is $24.29. RXO, Inc. has a one year low of $12.39 and a one year high of $32.82. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -6.43, a P/E/G ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, analysts expect that RXO, Inc. will post 0.31 earnings per share 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.