Principal Financial Group Inc. Purchases 23,160 Shares of Rxo Inc (NYSE:RXO)

Principal Financial Group Inc. grew its position in Rxo Inc (NYSE:RXO) by 3.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 707,430 shares of the company’s stock after buying an additional 23,160 shares during the period. Principal Financial Group Inc. owned 0.43% of RXO worth $13,512,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RXO. Vanguard Group Inc. boosted its stake in RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock worth $410,137,000 after purchasing an additional 2,009,937 shares in the last quarter. FIL Ltd boosted its stake in RXO by 10.4% in the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock worth $150,857,000 after purchasing an additional 596,158 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in RXO by 34.3% in the 1st quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock worth $68,589,000 after purchasing an additional 916,379 shares in the last quarter. Geode Capital Management LLC boosted its stake in RXO by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock worth $80,185,000 after purchasing an additional 307,492 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in RXO by 15.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock worth $52,155,000 after purchasing an additional 355,255 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RXO. Morgan Stanley lowered their target price on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. Citigroup reissued a “neutral” rating and set a $18.00 price target (up from $15.00) on shares of RXO in a research report on Wednesday, May 21st. UBS Group reduced their price target on shares of RXO from $24.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company reduced their price target on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Finally, Bank of America raised their price target on shares of RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.87.

RXO Price Performance

NYSE:RXO opened at $17.25 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -7.95, a price-to-earnings-growth ratio of 8.36 and a beta of 1.69. The company has a 50 day moving average price of $15.90 and a 200-day moving average price of $18.54. Rxo Inc has a 1-year low of $12.19 and a 1-year high of $32.82.

RXO (NYSE:RXO) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm earned ($0.03) earnings per share. RXO’s revenue for the quarter was up 57.0% compared to the same quarter last year. Equities research analysts forecast that Rxo Inc will post 0.31 EPS for the current year.

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.