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

Principal Financial Group Inc. lifted its position in shares of RXO, Inc. (NYSE:RXO - Free Report) by 11.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 650,222 shares of the company's stock after buying an additional 66,159 shares during the quarter. Principal Financial Group Inc. owned about 0.40% of RXO worth $18,206,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its stake in RXO by 40.0% during the third quarter. GAMMA Investing LLC now owns 1,784 shares of the company's stock worth $50,000 after buying an additional 510 shares in the last quarter. Motco boosted its position in shares of RXO by 5,450.0% during the 1st quarter. Motco now owns 2,442 shares of the company's stock worth $53,000 after acquiring an additional 2,398 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in RXO by 2,235.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,643 shares of the company's stock valued at $80,000 after acquiring an additional 3,487 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in RXO during the second quarter valued at approximately $112,000. Finally, City Holding Co. lifted its position in shares of RXO by 57.9% during the 3rd quarter. City Holding Co. now owns 5,241 shares of the company's stock worth $147,000 after buying an additional 1,921 shares during the last quarter. 92.73% of the stock is owned by institutional investors.

RXO Stock Down 0.9 %

RXO traded down $0.24 on Friday, hitting $27.25. The company had a trading volume of 859,585 shares, compared to its average volume of 861,563. RXO, Inc. has a 52-week low of $18.75 and a 52-week high of $32.82. The stock has a fifty day simple moving average of $27.85 and a 200-day simple moving average of $26.04. The firm has a market capitalization of $4.38 billion, a P/E ratio of -13.76, a P/E/G ratio of 15.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) 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 for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. As a group, equities analysts expect that RXO, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RXO. Morgan Stanley increased their target price on RXO from $19.00 to $26.00 and gave the company an "equal weight" rating in a research report on Monday, August 12th. Benchmark reissued a "hold" rating on shares of RXO in a research report on Tuesday, October 15th. Wells Fargo & Company restated an "equal weight" rating and issued a $31.00 price target on shares of RXO in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an "underweight" rating in a research report on Thursday, August 8th. Finally, UBS Group upped their price target on shares of RXO from $22.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, RXO has an average rating of "Hold" and an average price target of $26.29.

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.