Invesco Ltd. Grows Stake in RXO, Inc. (NYSE:RXO)

Invesco Ltd. increased its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 634,503 shares of the company's stock after purchasing an additional 66,832 shares during the period. Invesco Ltd. owned 0.39% of RXO worth $15,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RXO. Vanguard Group Inc. increased its stake in RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company's stock worth $410,137,000 after buying an additional 2,009,937 shares in the last quarter. Norges Bank purchased a new stake in shares of RXO during the fourth quarter worth approximately $28,342,000. Franklin Resources Inc. raised its stake in RXO by 122.6% in the 4th quarter. Franklin Resources Inc. now owns 1,676,628 shares of the company's stock valued at $39,971,000 after purchasing an additional 923,307 shares during the last quarter. Barclays PLC lifted its holdings in RXO by 185.5% in the 3rd quarter. Barclays PLC now owns 908,873 shares of the company's stock valued at $25,449,000 after purchasing an additional 590,530 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in RXO by 27.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company's stock worth $56,629,000 after purchasing an additional 508,330 shares during the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Up 5.2 %

Shares of RXO traded up $0.66 during midday trading on Wednesday, hitting $13.44. The company had a trading volume of 1,739,423 shares, compared to its average volume of 1,137,744. RXO, Inc. has a 1 year low of $12.19 and a 1 year high of $32.82. The firm has a market capitalization of $2.20 billion, a P/E ratio of -6.34, a P/E/G ratio of 4.55 and a beta of 1.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The company's 50-day simple moving average is $17.74 and its 200-day simple moving average is $23.60.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of RXO from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus lowered their target price on RXO from $27.00 to $24.00 and set a "hold" rating on the stock in a report on Thursday, February 6th. Jefferies Financial Group cut their price target on RXO from $26.00 to $20.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Benchmark reissued a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, RXO presently has a consensus rating of "Hold" and a consensus price target of $22.73.

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.