KLP Kapitalforvaltning AS Invests $517,000 in RXO, Inc. (NYSE:RXO)

KLP Kapitalforvaltning AS bought a new position in RXO, Inc. (NYSE:RXO - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,700 shares of the company's stock, valued at approximately $517,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of RXO by 79.7% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after purchasing an additional 510 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in RXO during the third quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of RXO by 228.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock worth $30,000 after buying an additional 868 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company's stock worth $39,000 after acquiring an additional 570 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of RXO by 407.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock valued at $43,000 after acquiring an additional 1,445 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Stock Down 9.3 %

Shares of RXO stock traded down $1.33 during midday trading on Tuesday, reaching $12.89. 2,093,105 shares of the company's stock traded hands, compared to its average volume of 1,074,907. 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 52 week low of $12.75 and a 52 week high of $32.82. The company's 50 day simple moving average is $19.71 and its 200 day simple moving average is $24.63. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -6.08, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60.

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 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 analysts expect that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RXO has been the topic of several research analyst reports. Barclays lowered their price objective on shares of RXO from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Truist Financial started coverage on RXO in a report on Thursday, March 13th. They set a "buy" rating and a $24.00 price target on the stock. Morgan Stanley reduced their price objective on RXO from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus dropped 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. Finally, Citigroup decreased 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. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.