Principal Financial Group Inc. Buys 66,159 Shares of RXO, Inc. (NYSE:RXO)

Principal Financial Group Inc. lifted its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 11.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,222 shares of the company's stock after acquiring an additional 66,159 shares during the quarter. Principal Financial Group Inc. owned approximately 0.40% of RXO worth $18,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in RXO by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 874,912 shares of the company's stock worth $22,879,000 after purchasing an additional 7,251 shares during the last quarter. Natixis Advisors LLC lifted its holdings in RXO by 200.1% in the second quarter. Natixis Advisors LLC now owns 363,511 shares of the company's stock valued at $9,506,000 after buying an additional 242,388 shares during the period. Arizona State Retirement System boosted its position in RXO by 2.3% during the second quarter. Arizona State Retirement System now owns 32,906 shares of the company's stock valued at $860,000 after acquiring an additional 751 shares during the last quarter. Emerald Advisers LLC grew its holdings in RXO by 0.4% during the 2nd quarter. Emerald Advisers LLC now owns 443,386 shares of the company's stock worth $11,595,000 after acquiring an additional 1,775 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of RXO by 2.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company's stock worth $668,000 after acquiring an additional 575 shares in the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RXO has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $31.00 target price on shares of RXO in a research note on Monday, November 11th. Citigroup downgraded shares of RXO from a "buy" rating to a "neutral" rating and set a $33.00 price objective for the company. in a research report on Tuesday, November 12th. Benchmark reiterated a "hold" rating on shares of RXO in a research report on Tuesday, October 15th. The Goldman Sachs Group restated a "neutral" rating and issued a $29.00 price target on shares of RXO in a report on Monday, November 18th. Finally, Susquehanna dropped their price objective on shares of RXO from $16.00 to $12.00 and set a "negative" rating on the stock in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.47.

RXO Stock Up 1.0 %

RXO stock traded up $0.23 during midday trading on Friday, hitting $24.36. 801,195 shares of the stock were exchanged, compared to its average volume of 886,724. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -12.30, a price-to-earnings-growth ratio of 15.82 and a beta of 1.32. RXO, Inc. has a 52-week low of $18.75 and a 52-week high of $32.82. The business's 50-day moving average price is $27.92 and its 200-day moving average price is $27.53.

RXO (NYSE:RXO - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company's revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 EPS. On average, research analysts expect that RXO, Inc. will post 0.12 EPS for the current fiscal year.

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.