Wellington Management Group LLP Grows Stock Position in Rxo Inc $RXO

Wellington Management Group LLP increased its stake in Rxo Inc (NYSE:RXO) by 374.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,259,421 shares of the company’s stock after buying an additional 7,306,537 shares during the quarter. Wellington Management Group LLP owned about 5.65% of RXO worth $176,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RXO. Douglas Lane & Associates LLC raised its stake in shares of RXO by 34.3% in the first quarter. Douglas Lane & Associates LLC now owns 3,591,040 shares of the company’s stock valued at $68,589,000 after acquiring an additional 916,379 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in RXO by 15.0% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,730,665 shares of the company’s stock valued at $52,155,000 after purchasing an additional 355,255 shares during the last quarter. Dimensional Fund Advisors LP raised its position in RXO by 6.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,024,887 shares of the company’s stock worth $48,275,000 after purchasing an additional 128,819 shares during the period. Frontier Capital Management Co. LLC lifted its stake in RXO by 14.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,954,407 shares of the company’s stock worth $46,593,000 after purchasing an additional 240,426 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in RXO by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,562,787 shares of the company’s stock worth $37,257,000 after purchasing an additional 266,674 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Cowen reaffirmed a “hold” rating on shares of RXO in a research note on Friday, August 8th. Barclays lowered their target price on shares of RXO from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of RXO from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Susquehanna set a $12.00 price objective on shares of RXO and gave the company a “neutral” rating in a report on Tuesday, June 24th. Finally, Stifel Nicolaus lowered their price objective on shares of RXO from $24.00 to $14.00 and set a “hold” rating for the company in a research report 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 company. According to data from MarketBeat.com, RXO presently has a consensus rating of “Hold” and an average target price of $17.93.

RXO Price Performance

Shares of RXO stock opened at $14.4950 on Thursday. The stock’s 50-day moving average is $15.93 and its 200 day moving average is $16.76. Rxo Inc has a 1-year low of $12.19 and a 1-year high of $31.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $2.38 billion, a P/E ratio of -6.71, a PEG ratio of 7.25 and a beta of 1.68.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the firm posted $0.03 earnings per share. The company’s quarterly revenue was up 52.6% on a year-over-year basis. Research analysts predict that Rxo Inc will post 0.31 earnings per share 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.