Charles Schwab Investment Management Inc. Raises Stock Position in RXO, Inc. (NYSE:RXO)

Charles Schwab Investment Management Inc. lifted its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,145,033 shares of the company's stock after buying an additional 76,653 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.33% of RXO worth $51,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new position in RXO in the third quarter worth approximately $27,964,000. Zimmer Partners LP acquired a new position in shares of RXO in the 3rd quarter valued at $22,680,000. Franklin Resources Inc. purchased a new position in shares of RXO during the 3rd quarter worth $22,344,000. Victory Capital Management Inc. increased its position in shares of RXO by 1,772.4% during the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company's stock worth $21,314,000 after purchasing an additional 720,574 shares during the last quarter. Finally, State Street Corp raised its holdings in RXO by 13.3% in the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company's stock valued at $143,498,000 after buying an additional 602,741 shares during the period. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of RXO from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Benchmark reaffirmed a "hold" rating on shares of RXO in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on RXO in a research report on Friday, March 7th. They issued a "hold" rating and a $19.00 target price on the stock. Jefferies Financial Group lowered their price target on RXO from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, The Goldman Sachs Group cut their price objective on RXO from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $25.80.

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RXO Stock Up 2.4 %

Shares of NYSE:RXO traded up $0.44 during trading hours on Monday, reaching $18.90. The stock had a trading volume of 967,463 shares, compared to its average volume of 977,583. RXO, Inc. has a 1 year low of $17.50 and a 1 year high of $32.82. The firm's 50 day moving average is $22.55 and its 200-day moving average is $25.79. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -8.91, a P/E/G ratio of 4.55 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26.

RXO (NYSE:RXO - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. 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.