Bank of New York Mellon Corp Acquires 64,522 Shares of RXO, Inc. (NYSE:RXO)

Bank of New York Mellon Corp increased its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 939,846 shares of the company's stock after acquiring an additional 64,522 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of RXO worth $22,406,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RXO. Blue Trust Inc. raised its position in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after acquiring an additional 510 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in RXO during the third quarter worth about $28,000. Nomura Asset Management Co. Ltd. boosted its stake in RXO by 68.7% during 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. Thurston Springer Miller Herd & Titak Inc. boosted its stake in RXO by 407.0% during 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. Finally, KBC Group NV boosted its stake in shares of RXO by 28.1% in the third quarter. KBC Group NV now owns 4,055 shares of the company's stock valued at $114,000 after purchasing an additional 890 shares during the period. Institutional investors own 92.73% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on RXO shares. Morgan Stanley cut their price objective on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus lowered their price objective on shares of RXO from $27.00 to $24.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Truist Financial started coverage on shares of RXO in a research report on Thursday. They set a "buy" rating and a $24.00 target price on the stock. Benchmark restated a "hold" rating on shares of RXO in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company decreased their price objective on shares of RXO from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.80.

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RXO Stock Up 1.5 %

Shares of NYSE:RXO traded up $0.27 during mid-day trading on Friday, reaching $18.51. 1,200,788 shares of the stock were exchanged, compared to its average volume of 976,821. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.02 billion, a P/E ratio of -8.73, a P/E/G ratio of 4.55 and a beta of 1.67. RXO, Inc. has a one year low of $17.50 and a one year high of $32.82. The stock's 50 day simple moving average is $22.68 and its 200-day simple moving average is $25.90.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. As a group, equities research analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

RXO Company 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.