Vanguard Group Inc. Sells 258,429 Shares of Rxo Inc $RXO

Vanguard Group Inc. decreased its stake in Rxo Inc (NYSE:RXO) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,945,292 shares of the company’s stock after selling 258,429 shares during the period. Vanguard Group Inc. owned 10.34% of RXO worth $323,655,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in RXO by 25.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,797 shares of the company’s stock valued at $130,000 after purchasing an additional 1,398 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in RXO by 25.8% in the 1st quarter. Picton Mahoney Asset Management now owns 480,761 shares of the company’s stock valued at $9,182,000 after purchasing an additional 98,488 shares during the last quarter. TD Asset Management Inc acquired a new stake in RXO in the 1st quarter valued at about $1,907,000. Victory Capital Management Inc. lifted its stake in RXO by 15.7% in the 1st quarter. Victory Capital Management Inc. now owns 982,789 shares of the company’s stock valued at $18,771,000 after purchasing an additional 133,449 shares during the last quarter. Finally, Tectonic Advisors LLC lifted its stake in RXO by 24.7% in the 1st quarter. Tectonic Advisors LLC now owns 55,755 shares of the company’s stock valued at $1,065,000 after purchasing an additional 11,043 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Stock Performance

Shares of RXO stock opened at $14.99 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.24. Rxo Inc has a twelve month low of $12.19 and a twelve month high of $31.98. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -6.94, a P/E/G ratio of 7.12 and a beta of 1.68. The company’s fifty day moving average is $16.01 and its 200 day moving average is $16.86.

RXO (NYSE:RXO) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $0.03 earnings per share. RXO’s revenue for the quarter was up 52.6% on a year-over-year basis. Sell-side analysts forecast that Rxo Inc will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RXO shares. Susquehanna set a $12.00 target price on shares of RXO and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Stifel Nicolaus cut their price objective on shares of RXO from $24.00 to $14.00 and set a “hold” rating for the company in a research report on Thursday, May 8th. The Goldman Sachs Group cut their price objective on shares of RXO from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of RXO from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Citigroup restated a “neutral” rating and set a $18.00 price objective (up from $15.00) on shares of RXO in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and an average target price of $17.93.

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.