Maryland State Retirement & Pension System Boosts Holdings in RXO, Inc. (NYSE:RXO)

Maryland State Retirement & Pension System increased its position in RXO, Inc. (NYSE:RXO) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,110 shares of the company’s stock after buying an additional 747 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RXO were worth $1,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RXO. Blue Trust Inc. increased its stake in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after buying an additional 510 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of RXO in the third quarter worth $28,000. Smartleaf Asset Management LLC increased its stake in shares of RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after buying an additional 868 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of RXO by 407.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after buying an additional 1,445 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on RXO. Truist Financial began coverage on shares of RXO in a research note on Thursday, March 13th. They issued a “buy” rating and a $24.00 target price on the stock. Barclays reduced their price objective on shares of RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reissued a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Jefferies Financial Group reduced their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley reduced their price objective on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.80.

RXO Stock Performance

Shares of RXO stock opened at $18.55 on Friday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -8.75, a PEG ratio of 4.55 and a beta of 1.67. The firm’s 50-day moving average is $21.91 and its 200 day moving average is $25.47. RXO, Inc. has a 1 year low of $17.50 and a 1 year high of $32.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33.

RXO (NYSE:RXO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. Sell-side analysts anticipate 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.