Geode Capital Management LLC Boosts Stake in RXO, Inc. (NYSE:RXO)

Geode Capital Management LLC increased its holdings in shares of RXO, Inc. (NYSE:RXO - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,362,721 shares of the company's stock after buying an additional 307,492 shares during the period. Geode Capital Management LLC owned about 2.09% of RXO worth $80,185,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in RXO during the 3rd quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its holdings in RXO by 228.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock worth $30,000 after purchasing an additional 868 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position 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 worth $39,000 after purchasing an additional 570 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of RXO by 407.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock valued at $43,000 after purchasing an additional 1,445 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

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RXO Stock Down 3.4 %

Shares of RXO traded down $0.47 on Tuesday, reaching $13.52. The company's stock had a trading volume of 891,494 shares, compared to its average volume of 1,096,432. The stock has a market capitalization of $2.22 billion, a PE ratio of -6.38, a PEG ratio of 4.55 and a beta of 1.60. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. RXO, Inc. has a twelve month low of $12.39 and a twelve month high of $32.82. The firm has a fifty day moving average of $18.68 and a 200-day moving average of $24.17.

RXO (NYSE:RXO - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share 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%. Equities analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RXO. Truist Financial initiated coverage on shares of RXO in a research note on Thursday, March 13th. They set a "buy" rating and a $24.00 target price for the company. Barclays dropped their price objective on RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on RXO in a report on Friday, March 7th. They issued a "hold" rating and a $19.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of RXO from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Oppenheimer downgraded shares of RXO from an "outperform" rating to a "market perform" rating in a research report on Friday, April 4th. Two research 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. According to MarketBeat.com, RXO has an average rating of "Hold" and a consensus price target of $22.73.

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.