Strs Ohio Reduces Holdings in RXO, Inc. (NYSE:RXO)

Strs Ohio cut its stake in shares of RXO, Inc. (NYSE:RXO) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,900 shares of the company’s stock after selling 6,100 shares during the quarter. Strs Ohio’s holdings in RXO were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Douglas Lane & Associates LLC lifted its holdings in RXO by 10.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock worth $59,997,000 after buying an additional 248,883 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in RXO by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after buying an additional 23,497 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in RXO by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,682,463 shares of the company’s stock worth $33,195,000 after buying an additional 112,970 shares during the period. Fred Alger Management LLC lifted its holdings in RXO by 18.9% in the 3rd quarter. Fred Alger Management LLC now owns 1,452,879 shares of the company’s stock worth $28,665,000 after buying an additional 230,664 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in RXO by 290.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 868,821 shares of the company’s stock worth $17,142,000 after buying an additional 646,540 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RXO has been the subject of several research analyst reports. Vertical Research cut RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Wednesday, January 10th. TD Cowen increased their target price on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, February 9th. Benchmark reissued a “hold” rating on shares of RXO in a research report on Friday, April 19th. Bank of America lowered RXO from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. Finally, Oppenheimer decreased their target price on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, February 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, RXO presently has an average rating of “Hold” and a consensus target price of $20.23.

Insiders Place Their Bets

In other RXO news, major shareholder Mfn Partners, Lp bought 870,000 shares of RXO stock in a transaction on Thursday, April 18th. The stock was acquired at an average price of $19.52 per share, with a total value of $16,982,400.00. Following the acquisition, the insider now owns 16,675,369 shares in the company, valued at $325,503,202.88. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 2,578,268 shares of company stock valued at $52,301,046. Corporate insiders own 1.50% of the company’s stock.

RXO Stock Up 2.1 %

RXO stock opened at $19.91 on Wednesday. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.34 billion, a PE ratio of 497.87, a price-to-earnings-growth ratio of 6.86 and a beta of 1.08. The business has a 50 day moving average of $20.89 and a 200 day moving average of $20.88.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. RXO had a return on equity of 6.11% and a net margin of 0.10%. The company had revenue of $978.00 million during the quarter, compared to analyst estimates of $996.33 million. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, research analysts forecast that RXO, Inc. will post 0.22 EPS for the current fiscal year.

RXO Company 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.