Invesco Ltd. Boosts Holdings in Rxo Inc $RXO

Invesco Ltd. increased its holdings in Rxo Inc (NYSE:RXO) by 19.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 754,778 shares of the company’s stock after buying an additional 120,275 shares during the quarter. Invesco Ltd. owned 0.46% of RXO worth $14,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RXO. Wells Fargo & Company MN boosted its holdings in shares of RXO by 46.6% in the fourth quarter. Wells Fargo & Company MN now owns 97,448 shares of the company’s stock worth $2,323,000 after buying an additional 30,993 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of RXO in the fourth quarter worth approximately $1,588,000. First Trust Advisors LP increased its holdings in RXO by 78.1% in the 4th quarter. First Trust Advisors LP now owns 13,495 shares of the company’s stock worth $322,000 after acquiring an additional 5,917 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in RXO by 6.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,024,887 shares of the company’s stock worth $48,275,000 after acquiring an additional 128,819 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in RXO by 22.3% in the 4th quarter. MetLife Investment Management LLC now owns 95,951 shares of the company’s stock worth $2,287,000 after acquiring an additional 17,496 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

RXO has been the subject of several analyst reports. Wall Street Zen raised shares of RXO from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Cowen reissued a “hold” rating on shares of RXO in a report on Friday, August 8th. The Goldman Sachs Group reduced their target price on shares of RXO from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. 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. Finally, Bank of America increased their target price on shares of RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.93.

RXO Stock Up 15.0%

Shares of RXO opened at $16.9030 on Friday. The business’s 50 day moving average is $15.93 and its 200 day moving average is $16.63. The company has a market capitalization of $2.77 billion, a PE ratio of -7.83, a price-to-earnings-growth ratio of 6.99 and a beta of 1.68. Rxo Inc has a 12-month low of $12.19 and a 12-month high of $31.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24.

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