JPMorgan Chase & Co. Purchases 113,685 Shares of RXO, Inc. (NYSE:RXO)

JPMorgan Chase & Co. raised its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 71.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,062 shares of the company's stock after purchasing an additional 113,685 shares during the period. JPMorgan Chase & Co. owned approximately 0.17% of RXO worth $7,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of RXO in the 3rd quarter valued at approximately $28,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company's stock worth $39,000 after buying an additional 570 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of RXO by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock valued at $50,000 after acquiring an additional 510 shares during the last quarter. KBC Group NV boosted its holdings in shares of RXO by 28.1% during the 3rd quarter. KBC Group NV now owns 4,055 shares of the company's stock valued at $114,000 after acquiring an additional 890 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in RXO during the 2nd quarter worth $112,000. 92.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RXO. Susquehanna dropped their target price on RXO from $16.00 to $12.00 and set a "negative" rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company cut their target price on shares of RXO from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group decreased their price target on shares of RXO from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Citigroup lowered shares of RXO from a "buy" rating to a "neutral" rating and set a $33.00 price target on the stock. in a report on Tuesday, November 12th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $31.00 target price on shares of RXO in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $26.77.

RXO Trading Up 1.0 %

RXO stock traded up $0.26 during mid-day trading on Wednesday, reaching $25.24. The company's stock had a trading volume of 1,010,046 shares, compared to its average volume of 899,280. The company has a market cap of $4.06 billion, a price-to-earnings ratio of -12.75, a price-to-earnings-growth ratio of 15.82 and a beta of 1.52. RXO, Inc. has a 12 month low of $18.75 and a 12 month high of $32.82. The business's 50 day moving average price is $27.02 and its 200 day moving average price is $27.82. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21.

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