356,918 Shares in Rxo Inc $RXO Bought by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Rxo Inc (NYSE:RXO) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 356,918 shares of the company’s stock, valued at approximately $5,611,000. Edgestream Partners L.P. owned approximately 0.22% of RXO at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its position in 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 buying an additional 7,306,537 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in RXO by 4.1% during the 2nd quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after acquiring an additional 148,738 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of RXO by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,611,478 shares of the company’s stock worth $56,780,000 after acquiring an additional 139,999 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of RXO in the first quarter valued at approximately $56,693,000. Finally, Fred Alger Management LLC lifted its position in shares of RXO by 21.4% in the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock worth $40,202,000 after purchasing an additional 371,511 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RXO. The Goldman Sachs Group decreased their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Cowen restated a “hold” rating on shares of RXO in a report on Friday, August 8th. JPMorgan Chase & Co. upped their target price on RXO from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Morgan Stanley raised RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 price target for the company in a research report on Tuesday, November 11th. Finally, UBS Group lowered their price target on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.69.

RXO Trading Up 1.5%

Shares of NYSE:RXO opened at $13.46 on Wednesday. Rxo Inc has a 52-week low of $10.43 and a 52-week high of $30.06. The company has a market capitalization of $2.21 billion, a P/E ratio of -31.29 and a beta of 1.74. The company has a 50-day simple moving average of $15.09 and a 200 day simple moving average of $15.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share 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 analyst estimates of $1.44 billion. RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.RXO’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Sell-side analysts forecast that Rxo Inc will post 0.31 earnings per share for the current year.

Insider Activity at RXO

In related news, Director Thomas A. Szlosek acquired 20,308 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $12.37 per share, with a total value of $251,209.96. Following the completion of the transaction, the director directly owned 36,508 shares of the company’s stock, valued at $451,603.96. This trade represents a 125.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Troy A. Cooper bought 8,317 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were bought at an average price of $10.61 per share, with a total value of $88,243.37. Following the purchase, the director owned 275,416 shares in the company, valued at $2,922,163.76. The trade was a 3.11% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 40,250 shares of company stock worth $488,875. Company insiders own 1.48% of the company’s stock.

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.