66,624 Shares in RXO, Inc. (NYSE:RXO) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of RXO, Inc. (NYSE:RXO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,624 shares of the company's stock, valued at approximately $1,588,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Zimmer Partners LP bought a new position in RXO during the third quarter worth about $22,680,000. Franklin Resources Inc. acquired a new stake in shares of RXO in the 3rd quarter valued at approximately $22,344,000. State Street Corp boosted its stake in RXO by 13.3% during the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company's stock worth $143,498,000 after acquiring an additional 602,741 shares during the last quarter. Barclays PLC grew its holdings in RXO by 185.5% during the third quarter. Barclays PLC now owns 908,873 shares of the company's stock valued at $25,449,000 after purchasing an additional 590,530 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in RXO by 27.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company's stock valued at $56,629,000 after purchasing an additional 508,330 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Stock Performance

NYSE:RXO traded down $1.33 during mid-day trading on Friday, hitting $14.44. The stock had a trading volume of 3,000,423 shares, compared to its average volume of 1,062,067. RXO, Inc. has a twelve month low of $13.77 and a twelve month high of $32.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -6.81, a PEG ratio of 4.55 and a beta of 1.60. The company's 50 day simple moving average is $20.49 and its 200 day simple moving average is $24.91.

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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%. On average, equities research analysts forecast that RXO, Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Benchmark reaffirmed a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Susquehanna dropped their price target on RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a research report on Wednesday, March 26th. Barclays decreased their price objective on RXO from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday. The Goldman Sachs Group dropped their target price on shares of RXO from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley reduced their price target on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, RXO has an average rating of "Hold" and a consensus price target of $24.80.

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.