Jennison Associates LLC Takes Position in RXO, Inc. (NYSE:RXO)

Jennison Associates LLC acquired a new position in RXO, Inc. (NYSE:RXO - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 28,290 shares of the company's stock, valued at approximately $792,000.

A number of other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock worth $50,000 after acquiring an additional 510 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in RXO during the second quarter valued at approximately $112,000. KBC Group NV lifted its stake in RXO by 28.1% in the 3rd quarter. KBC Group NV now owns 4,055 shares of the company's stock worth $114,000 after purchasing an additional 890 shares in the last quarter. City Holding Co. grew its position in shares of RXO by 57.9% during the 3rd quarter. City Holding Co. now owns 5,241 shares of the company's stock valued at $147,000 after purchasing an additional 1,921 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in shares of RXO by 29.6% in the third quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company's stock worth $149,000 after purchasing an additional 1,212 shares during the period. Institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RXO shares. TD Cowen upped their price objective on shares of RXO from $23.00 to $28.00 and gave the stock a "hold" rating in a research report on Thursday, August 8th. The Goldman Sachs Group reiterated a "neutral" rating and set a $29.00 price target on shares of RXO in a research report on Monday, November 18th. Susquehanna lowered their price objective on shares of RXO from $16.00 to $12.00 and set a "negative" rating for the company in a report on Tuesday, November 12th. Oppenheimer reaffirmed an "outperform" rating and set a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Finally, UBS Group increased their target price on RXO from $22.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $26.47.

RXO Stock Up 1.6 %

RXO traded up $0.45 during trading on Friday, reaching $28.36. The stock had a trading volume of 716,116 shares, compared to its average volume of 858,822. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of -14.32, a P/E/G ratio of 15.04 and a beta of 1.33. The stock's 50 day moving average is $28.02 and its two-hundred day moving average is $26.36. RXO, Inc. has a one year low of $18.75 and a one year high of $32.82.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $956.19 million. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, analysts expect that RXO, Inc. will post 0.12 earnings per share for the current 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.