Franklin Resources Inc. Has $39.97 Million Stake in RXO, Inc. (NYSE:RXO)

Franklin Resources Inc. grew its stake in RXO, Inc. (NYSE:RXO - Free Report) by 122.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,676,628 shares of the company's stock after buying an additional 923,307 shares during the period. Franklin Resources Inc. owned approximately 1.04% of RXO worth $39,971,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RXO. The Manufacturers Life Insurance Company lifted its holdings in RXO by 12.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,244 shares of the company's stock worth $2,079,000 after purchasing an additional 8,377 shares during the last quarter. FMR LLC boosted its holdings in shares of RXO by 439.5% during the 3rd quarter. FMR LLC now owns 47,837 shares of the company's stock worth $1,339,000 after buying an additional 38,970 shares during the period. MetLife Investment Management LLC lifted its position in RXO by 16.3% during the 3rd quarter. MetLife Investment Management LLC now owns 78,455 shares of the company's stock worth $2,197,000 after acquiring an additional 10,993 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in RXO by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 247,588 shares of the company's stock valued at $6,932,000 after acquiring an additional 4,415 shares during the period. Finally, Verition Fund Management LLC bought a new stake in RXO during the third quarter valued at about $1,149,000. Institutional investors and hedge funds own 92.73% of the company's stock.

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RXO Price Performance

RXO stock traded down $0.81 during trading hours on Thursday, hitting $14.13. 472,600 shares of the stock were exchanged, compared to its average volume of 1,087,280. The stock has a market capitalization of $2.32 billion, a P/E ratio of -6.68, a P/E/G ratio of 4.55 and a beta of 1.60. The business's 50-day moving average is $19.28 and its two-hundred day moving average is $24.48. 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, Inc. has a 12 month low of $12.39 and a 12 month high of $32.82.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Equities research analysts expect that RXO, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays cut their price objective on RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Truist Financial started coverage on RXO in a research report on Thursday, March 13th. They issued a "buy" rating and a $24.00 price objective for the company. Susquehanna dropped their target price on shares of RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research report on Wednesday, March 26th. Citigroup reduced their price target on shares of RXO from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Morgan Stanley reduced their target price on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $23.60.

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.