Rxo Inc (NYSE:RXO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Rxo Inc (NYSE:RXO) by 1.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 927,741 shares of the company’s stock after selling 12,105 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of RXO worth $17,720,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of RXO during the 4th quarter valued at approximately $1,588,000. Swiss National Bank grew its stake in shares of RXO by 0.6% in the fourth quarter. Swiss National Bank now owns 201,800 shares of the company’s stock worth $4,811,000 after acquiring an additional 1,200 shares in the last quarter. Royce & Associates LP grew its stake in shares of RXO by 32.5% during the fourth quarter. Royce & Associates LP now owns 53,000 shares of the company’s stock worth $1,264,000 after purchasing an additional 13,000 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of RXO during the fourth quarter worth $356,000. Finally, Xponance Inc. grew its stake in shares of RXO by 29.6% during the fourth quarter. Xponance Inc. now owns 11,508 shares of the company’s stock worth $274,000 after purchasing an additional 2,631 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RXO has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, July 7th. Citigroup restated a “neutral” rating and set a $18.00 target price (up from $15.00) on shares of RXO in a research report on Wednesday, May 21st. Susquehanna set a $12.00 target price on shares of RXO and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. The Goldman Sachs Group reduced their target price on RXO from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group lowered their target price on RXO from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.87.

RXO Price Performance

NYSE:RXO opened at $16.17 on Friday. Rxo Inc has a one year low of $12.19 and a one year high of $32.82. The stock has a market cap of $2.65 billion, a P/E ratio of -7.45, a PEG ratio of 8.11 and a beta of 1.69. 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 company has a fifty day moving average price of $16.13 and a 200 day moving average price of $18.31.

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). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. RXO had a positive return on equity of 1.18% and a negative net margin of 5.94%. The firm’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. Analysts anticipate that Rxo Inc will post 0.31 earnings per share 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.