Patten Group Inc. Buys New Holdings in Rxo Inc $RXO

Patten Group Inc. purchased a new position in shares of Rxo Inc (NYSE:RXO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,932 shares of the company’s stock, valued at approximately $404,000.

A number of other institutional investors have also made changes to their positions in RXO. Geneos Wealth Management Inc. acquired a new stake in RXO during the 1st quarter valued at $30,000. Flagship Harbor Advisors LLC bought a new stake in shares of RXO during the 4th quarter worth about $25,000. Quarry LP acquired a new position in RXO in the 3rd quarter valued at about $33,000. Larson Financial Group LLC lifted its position in RXO by 146.5% during the third quarter. Larson Financial Group LLC now owns 2,766 shares of the company’s stock worth $43,000 after acquiring an additional 1,644 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in RXO by 27.0% during the third quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock worth $49,000 after acquiring an additional 701 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RXO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RXO in a research report on Monday, December 22nd. TD Cowen reaffirmed a “hold” rating on shares of RXO in a report on Friday, January 9th. Stephens set a $15.00 price objective on RXO in a research report on Monday, February 9th. Susquehanna lifted their target price on RXO from $10.00 to $11.00 and gave the stock a “negative” rating in a report on Thursday, January 8th. Finally, Stifel Nicolaus set a $15.00 target price on shares of RXO in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.77.

RXO Stock Up 1.2%

NYSE RXO opened at $16.25 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -28.02, a PEG ratio of 21.13 and a beta of 1.65. The company has a 50 day moving average of $14.80 and a 200-day moving average of $14.74. Rxo Inc has a 1-year low of $10.43 and a 1-year high of $18.69.

RXO (NYSE:RXO) last issued its quarterly earnings results on Friday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). RXO had a negative return on equity of 0.44% and a negative net margin of 1.74%.The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $0.06 EPS. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts expect that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

RXO Profile

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.