Principal Financial Group Inc. grew its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 684,270 shares of the company's stock after buying an additional 34,048 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of RXO worth $16,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in RXO. Creative Planning acquired a new stake in shares of RXO during the 3rd quarter valued at about $361,000. International Assets Investment Management LLC raised its stake in shares of RXO by 2,700.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,244 shares of the company's stock valued at $175,000 after acquiring an additional 6,021 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of RXO by 12.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 66,500 shares of the company's stock valued at $1,862,000 after acquiring an additional 7,400 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of RXO by 66.7% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 593,663 shares of the company's stock valued at $16,623,000 after acquiring an additional 237,637 shares in the last quarter. Finally, Emerald Advisers LLC raised its stake in shares of RXO by 92.3% in the 3rd quarter. Emerald Advisers LLC now owns 852,441 shares of the company's stock valued at $23,868,000 after acquiring an additional 409,055 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on RXO shares. Morgan Stanley cut their price objective on RXO from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group cut their price objective on RXO from $28.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. Benchmark reissued a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Stifel Nicolaus dropped their price target on RXO from $27.00 to $24.00 and set a "hold" rating on the stock in a research report on Thursday, February 6th. Finally, Jefferies Financial Group dropped their price target on RXO from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.46.
Read Our Latest Report on RXO
RXO Stock Performance
Shares of RXO traded up $0.57 on Friday, reaching $20.48. 1,786,200 shares of the stock traded hands, compared to its average volume of 1,185,000. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -9.66, a P/E/G ratio of 4.55 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. RXO, Inc. has a 12 month low of $18.75 and a 12 month high of $32.82. The stock's 50-day moving average price is $23.51 and its 200-day moving average price is $26.48.
RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 1.53% and a negative net margin of 6.26%. Equities analysts forecast that RXO, Inc. will post 0.31 EPS for the current fiscal year.
RXO Profile
(
Free Report)
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.
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