Loomis Sayles & Co. L P Makes New $27.96 Million Investment in RXO, Inc. (NYSE:RXO)

Loomis Sayles & Co. L P bought a new position in shares of RXO, Inc. (NYSE:RXO - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 998,709 shares of the company's stock, valued at approximately $27,964,000. Loomis Sayles & Co. L P owned 0.62% of RXO as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of RXO by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock valued at $50,000 after purchasing an additional 510 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of RXO by 2.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company's stock valued at $668,000 after acquiring an additional 575 shares during the period. Arizona State Retirement System increased its stake in shares of RXO by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 32,906 shares of the company's stock valued at $860,000 after purchasing an additional 751 shares in the last quarter. KBC Group NV raised its holdings 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 during the period. Finally, Louisiana State Employees Retirement System raised its holdings in RXO by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company's stock worth $1,545,000 after purchasing an additional 1,100 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RXO has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $29.00 target price on shares of RXO in a research report on Monday, November 18th. Benchmark reiterated a "hold" rating on shares of RXO in a research report on Tuesday, October 15th. Morgan Stanley boosted their target price on shares of RXO from $19.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, August 12th. Susquehanna lowered their price objective on RXO from $16.00 to $12.00 and set a "negative" rating on the stock in a report on Tuesday, November 12th. Finally, Oppenheimer reissued an "outperform" rating and set a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.47.

RXO Trading Up 1.5 %

Shares of RXO stock traded up $0.46 during trading hours on Tuesday, hitting $30.88. The company's stock had a trading volume of 1,082,697 shares, compared to its average volume of 860,828. The firm has a fifty day moving average of $28.11 and a 200-day moving average of $26.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -15.60, a P/E/G ratio of 15.28 and a beta of 1.33. RXO, Inc. has a twelve month low of $18.75 and a twelve month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $956.19 million. During the same period in the previous year, the firm earned $0.05 EPS. The business's revenue was up 6.6% on a year-over-year basis. Research analysts forecast that RXO, Inc. will post 0.12 EPS for the current year.

RXO 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.