Swedbank AB Sells 153,000 Shares of RXO, Inc. (NYSE:RXO)

Swedbank AB lowered its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,126,000 shares of the company's stock after selling 153,000 shares during the period. Swedbank AB owned approximately 2.66% of RXO worth $87,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Douglas Lane & Associates LLC increased its position in shares of RXO by 2.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company's stock valued at $57,871,000 after buying an additional 66,757 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of RXO by 433.8% in the first quarter. GSA Capital Partners LLP now owns 56,002 shares of the company's stock worth $1,225,000 after acquiring an additional 45,510 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of RXO during the first quarter worth about $542,000. Boston Partners lifted its holdings in shares of RXO by 150.0% during the 1st quarter. Boston Partners now owns 42,526 shares of the company's stock valued at $930,000 after purchasing an additional 25,519 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of RXO by 225.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,847 shares of the company's stock valued at $2,380,000 after purchasing an additional 75,395 shares during the period. 92.73% of the stock is currently owned by institutional investors and hedge funds.

RXO Stock Up 1.5 %

Shares of NYSE:RXO traded up $0.43 during trading on Wednesday, hitting $29.60. 649,168 shares of the company were exchanged, compared to its average volume of 859,589. RXO, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $32.82. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -330.78, a P/E/G ratio of 12.47 and a beta of 1.34. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $27.76 and a two-hundred day moving average price of $24.80.

RXO (NYSE:RXO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $930.00 million for the quarter, compared to analyst estimates of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The company's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, research analysts anticipate that RXO, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RXO has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of RXO from $25.00 to $26.00 and gave the stock an "underweight" rating in a report on Thursday, August 8th. Oppenheimer restated an "outperform" rating and set a $31.00 price objective on shares of RXO in a report on Tuesday, September 17th. Barclays upped their target price on shares of RXO from $24.00 to $30.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 16th. TD Cowen increased their target price on RXO from $23.00 to $28.00 and gave the stock a "hold" rating in a report on Thursday, August 8th. Finally, Benchmark restated a "hold" rating on shares of RXO in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, RXO has an average rating of "Hold" and an average target price of $26.23.

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.