Rxo Inc $RXO Position Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Rxo Inc (NYSE:RXO) by 25.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,797 shares of the company’s stock after purchasing an additional 1,398 shares during the period. PNC Financial Services Group Inc.’s holdings in RXO were worth $130,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC grew its position in RXO by 1,990.2% during the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,632 shares in the last quarter. CWM LLC grew its position in RXO by 234.4% during the 1st quarter. CWM LLC now owns 1,876 shares of the company’s stock worth $36,000 after purchasing an additional 1,315 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in RXO by 52.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company’s stock worth $52,000 after purchasing an additional 945 shares in the last quarter. Mackenzie Financial Corp grew its position in RXO by 37.2% during the 4th quarter. Mackenzie Financial Corp now owns 9,967 shares of the company’s stock worth $238,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in RXO by 25.2% during the 4th quarter. Quantinno Capital Management LP now owns 11,725 shares of the company’s stock worth $280,000 after purchasing an additional 2,358 shares in the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Stock Up 2.6%

RXO stock opened at $15.2730 on Wednesday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -7.07, a P/E/G ratio of 7.08 and a beta of 1.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. Rxo Inc has a fifty-two week low of $12.19 and a fifty-two week high of $31.98. The firm has a fifty day moving average price of $15.96 and a two-hundred day moving average price of $16.78.

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

Analyst Ratings Changes

Several research firms have recently commented on RXO. Morgan Stanley lowered their price target on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, July 7th. Barclays lowered their price target on shares of RXO from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, August 12th. Susquehanna set a $12.00 price target on shares of RXO and gave the company a “neutral” rating in a report on Tuesday, June 24th. UBS Group restated a “neutral” rating and set a $15.00 price target (up from $14.00) on shares of RXO in a report on Friday, August 8th. Finally, Cowen restated a “hold” rating on shares of RXO in a report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.