Bank of New York Mellon Corp Purchases 13,677 Shares of Rxo Inc $RXO

Bank of New York Mellon Corp raised its position in Rxo Inc (NYSE:RXO) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 941,418 shares of the company’s stock after acquiring an additional 13,677 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.57% of RXO worth $14,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock valued at $176,855,000 after purchasing an additional 7,306,537 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in RXO during the first quarter worth approximately $56,693,000. Nuveen LLC bought a new stake in RXO in the first quarter valued at approximately $8,107,000. Fred Alger Management LLC raised its stake in RXO by 21.4% in the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock valued at $40,202,000 after buying an additional 371,511 shares during the period. Finally, Douglas Lane & Associates LLC lifted its position in shares of RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock valued at $58,789,000 after buying an additional 148,738 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RXO shares. Wall Street Zen lowered RXO from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Wolfe Research upgraded shares of RXO from an “underperform” rating to a “peer perform” rating in a report on Friday. Benchmark reissued a “hold” rating on shares of RXO in a research report on Wednesday, October 22nd. Susquehanna reduced their target price on shares of RXO from $11.00 to $10.00 and set a “negative” rating for the company in a report on Friday, November 7th. Finally, Cowen reiterated a “hold” rating on shares of RXO in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.69.

Insider Activity at RXO

In other RXO news, Director Thomas A. Szlosek purchased 20,308 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $12.37 per share, for a total transaction of $251,209.96. Following the completion of the transaction, the director owned 36,508 shares in the company, valued at approximately $451,603.96. This represents a 125.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Andrew M. Wilkerson purchased 7,775 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $12.88 per share, with a total value of $100,142.00. Following the completion of the purchase, the chief executive officer owned 7,775 shares of the company’s stock, valued at $100,142. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 31,933 shares of company stock worth $400,632 over the last ninety days. Insiders own 1.48% of the company’s stock.

RXO Trading Down 2.7%

Shares of RXO stock opened at $10.57 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50-day moving average of $16.10 and a 200-day moving average of $15.96. Rxo Inc has a 52-week low of $10.43 and a 52-week high of $31.11. The stock has a market cap of $1.73 billion, a PE ratio of -24.58 and a beta of 1.66.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business 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 0.88% and a negative net margin of 1.25%.RXO’s revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. As a group, sell-side analysts forecast that Rxo Inc will post 0.31 EPS for the current 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.