Northern Trust Corp Has $29.78 Million Stock Position in Rxo Inc $RXO

Northern Trust Corp trimmed its holdings in Rxo Inc (NYSE:RXO) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,558,997 shares of the company’s stock after selling 3,790 shares during the period. Northern Trust Corp owned 0.95% of RXO worth $29,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RXO. Raymond James Financial Inc. acquired a new stake in shares of RXO in the fourth quarter valued at approximately $1,588,000. First Trust Advisors LP raised its position in shares of RXO by 78.1% in the fourth quarter. First Trust Advisors LP now owns 13,495 shares of the company’s stock valued at $322,000 after buying an additional 5,917 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of RXO by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,024,887 shares of the company’s stock valued at $48,275,000 after buying an additional 128,819 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of RXO by 16.0% in the fourth quarter. Hsbc Holdings PLC now owns 26,897 shares of the company’s stock valued at $648,000 after buying an additional 3,719 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of RXO by 19.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 105,766 shares of the company’s stock valued at $2,522,000 after buying an additional 17,424 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RXO shares. Wells Fargo & Company dropped their price target on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of RXO from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 8th. Cowen reissued a “hold” rating on shares of RXO in a research note on Friday, August 8th. Morgan Stanley decreased their price objective on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, July 7th. Finally, Stifel Nicolaus decreased their price objective on shares of RXO from $24.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, May 8th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.93.

RXO Stock Performance

NYSE RXO opened at $16.33 on Friday. The firm’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $16.44. The stock has a market cap of $2.68 billion, a PE ratio of -7.56, a PEG ratio of 7.79 and a beta of 1.68. Rxo Inc has a fifty-two week low of $12.19 and a fifty-two week high of $31.98. 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 (NYSE:RXO) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $1.44 billion. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The company’s revenue was up 52.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. On average, equities analysts expect that Rxo Inc will post 0.31 EPS 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.