Franklin Resources Inc. acquired a new position in shares of RXO, Inc. (NYSE:RXO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 753,321 shares of the company's stock, valued at approximately $22,344,000. Franklin Resources Inc. owned about 0.47% of RXO as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in RXO in the third quarter valued at about $28,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company's stock valued at $39,000 after purchasing an additional 570 shares during the last quarter. GAMMA Investing LLC grew its position in shares of RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock worth $50,000 after buying an additional 510 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of RXO during the second quarter worth approximately $112,000. Finally, KBC Group NV lifted its holdings in 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 buying an additional 890 shares during the period. 92.73% of the stock is owned by institutional investors.
RXO Stock Performance
Shares of RXO stock traded up $0.17 during midday trading on Friday, hitting $25.00. 6,142,710 shares of the company were exchanged, compared to its average volume of 886,796. The firm has a market capitalization of $4.02 billion, a P/E ratio of -12.63, a PEG ratio of 15.82 and a beta of 1.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. RXO, Inc. has a 52 week low of $18.75 and a 52 week high of $32.82. The firm's 50 day moving average price is $28.46 and its two-hundred day moving average price is $27.41.
RXO (NYSE:RXO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $956.19 million. During the same period in the previous year, the firm earned $0.05 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that RXO, Inc. will post 0.12 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have commented on RXO. Oppenheimer reiterated an "outperform" rating and set a $31.00 target price on shares of RXO in a research report on Tuesday, September 17th. Wells Fargo & Company restated an "equal weight" rating and set a $31.00 price objective on shares of RXO in a report on Monday, November 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $29.00 price target on shares of RXO in a research report on Monday, November 18th. Benchmark reaffirmed a "hold" rating on shares of RXO in a research report on Tuesday, October 15th. Finally, Susquehanna reduced their price target on RXO from $16.00 to $12.00 and set a "negative" rating for the company in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $26.47.
Read Our Latest Research Report on RXO
RXO Profile
(
Free Report)
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.
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