Wells Fargo & Company MN Increases Stock Position in RXO, Inc. (NYSE:RXO)

Wells Fargo & Company MN boosted its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 46.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,448 shares of the company's stock after acquiring an additional 30,993 shares during the quarter. Wells Fargo & Company MN owned 0.06% of RXO worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of RXO by 79.7% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company's stock valued at $27,000 after purchasing an additional 510 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of RXO during the 3rd quarter valued at $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of RXO by 228.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company's stock valued at $30,000 after buying an additional 868 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in RXO by 407.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company's stock worth $43,000 after acquiring an additional 1,445 shares during the last quarter. Finally, KBC Group NV lifted its position in RXO by 41.2% in the 4th quarter. KBC Group NV now owns 5,727 shares of the company's stock valued at $137,000 after acquiring an additional 1,672 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RXO shares. Susquehanna lowered their price target on RXO from $18.00 to $13.00 and set a "negative" rating on the stock in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of RXO in a research note on Friday, March 7th. They issued a "hold" rating and a $19.00 price target for the company. The Goldman Sachs Group dropped their target price on shares of RXO from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Morgan Stanley decreased their target price on shares of RXO from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Finally, Benchmark reiterated a "hold" rating on shares of RXO in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, RXO currently has an average rating of "Hold" and an average price target of $22.40.

RXO Stock Up 0.1 %

NYSE:RXO traded up $0.01 during midday trading on Tuesday, hitting $13.67. 1,982,214 shares of the company were exchanged, compared to its average volume of 1,150,916. RXO, Inc. has a fifty-two week low of $12.19 and a fifty-two week high of $32.82. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.24 billion, a PE ratio of -6.45, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60. The company has a fifty day simple moving average of $17.10 and a 200 day simple moving average of $23.16.

RXO (NYSE:RXO - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. As a group, equities analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

About RXO

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.