Russell Investments Group Ltd. Trims Stock Holdings in Rxo Inc $RXO

Russell Investments Group Ltd. decreased its holdings in Rxo Inc (NYSE:RXO) by 31.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,353 shares of the company’s stock after selling 51,532 shares during the period. Russell Investments Group Ltd. owned 0.07% of RXO worth $2,184,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in shares of RXO by 3.4% in the first quarter. Principal Financial Group Inc. now owns 707,430 shares of the company’s stock worth $13,512,000 after purchasing an additional 23,160 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of RXO by 1.8% in the first quarter. New York State Teachers Retirement System now owns 115,904 shares of the company’s stock valued at $2,214,000 after acquiring an additional 2,000 shares during the period. GAMMA Investing LLC boosted its position in shares of RXO by 1,728.8% in the first quarter. GAMMA Investing LLC now owns 36,997 shares of the company’s stock valued at $707,000 after acquiring an additional 34,974 shares during the period. SG Americas Securities LLC boosted its position in shares of RXO by 251.2% in the first quarter. SG Americas Securities LLC now owns 51,761 shares of the company’s stock valued at $989,000 after acquiring an additional 37,024 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of RXO in the fourth quarter valued at approximately $3,738,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Trading Down 4.3%

Shares of RXO opened at $16.2340 on Tuesday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -7.52, a PEG ratio of 8.07 and a beta of 1.68. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current 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 50 day moving average price of $15.95 and a 200-day moving average price of $16.53.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The firm 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 business’s quarterly revenue was up 52.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. As a group, equities research analysts forecast that Rxo Inc will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

RXO has been the subject of a number of analyst reports. Cowen restated a “hold” rating on shares of RXO in a research report on Friday, August 8th. Susquehanna set a $12.00 price objective on shares of RXO and gave the company a “neutral” rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. cut their price objective on shares of RXO from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, July 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. Finally, Citigroup restated a “neutral” rating and issued a $18.00 price objective (up from $15.00) on shares of RXO in a research report on Wednesday, May 21st. Three investment 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. According to MarketBeat, the stock has an average 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.