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

KLP Kapitalforvaltning AS bought a new stake in shares of RXO, Inc. (NYSE:RXO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,700 shares of the company's stock, valued at approximately $517,000.

Several other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its position in shares of RXO by 1.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company's stock valued at $783,000 after purchasing an additional 500 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock worth $27,000 after buying an additional 510 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of RXO by 1.8% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,865 shares of the company's stock worth $712,000 after buying an additional 518 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of RXO by 2.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company's stock valued at $505,000 after buying an additional 551 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased 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 valued at $39,000 after acquiring an additional 570 shares during the period. Institutional investors and hedge funds own 92.73% of the company's stock.

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Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on RXO from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. The Goldman Sachs Group dropped their target price on RXO from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, February 6th. Susquehanna reduced their price target on shares of RXO from $18.00 to $13.00 and set a "negative" rating for the company in a research report on Wednesday, March 26th. Morgan Stanley dropped their price objective on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Finally, Benchmark reissued a "hold" rating on shares of RXO in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, RXO currently has a consensus rating of "Hold" and a consensus target price of $24.80.

RXO Price Performance

RXO traded down $1.33 during trading on Friday, hitting $14.44. The company's stock had a trading volume of 3,000,423 shares, compared to its average volume of 1,062,067. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -6.81, a P/E/G ratio of 4.55 and a beta of 1.60. RXO, Inc. has a twelve month low of $13.77 and a twelve month high of $32.82. The business's fifty day simple moving average is $20.49 and its 200 day simple moving average is $24.91. 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 (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. On average, equities research analysts forecast that RXO, Inc. will post 0.31 EPS for the current fiscal year.

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.