State of Alaska Department of Revenue Has $5.11 Million Stock Holdings in RXO, Inc. (NYSE:RXO)

State of Alaska Department of Revenue increased its stake in shares of RXO, Inc. (NYSE:RXO - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 214,298 shares of the company's stock after acquiring an additional 12,284 shares during the period. State of Alaska Department of Revenue owned 0.13% of RXO worth $5,108,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P bought a new position in shares of RXO in the third quarter valued at approximately $27,964,000. Zimmer Partners LP bought a new stake in RXO during the 3rd quarter valued at approximately $22,680,000. Franklin Resources Inc. acquired a new stake in RXO in the 3rd quarter valued at approximately $22,344,000. Victory Capital Management Inc. increased its position in RXO by 1,772.4% in the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company's stock worth $21,314,000 after buying an additional 720,574 shares during the period. Finally, State Street Corp lifted its holdings in shares of RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company's stock worth $143,498,000 after buying an additional 602,741 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup lowered shares of RXO from a "buy" rating to a "neutral" rating and set a $33.00 target price on the stock. in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their price objective 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. Morgan Stanley reduced 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. Benchmark restated a "hold" rating on shares of RXO in a research note on Wednesday, January 15th. Finally, Susquehanna lowered their price objective on RXO from $16.00 to $12.00 and set a "negative" rating on the stock in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $26.46.

RXO Price Performance

NYSE:RXO traded down $0.62 on Tuesday, reaching $20.87. The stock had a trading volume of 1,009,416 shares, compared to its average volume of 1,170,245. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $3.36 billion, a P/E ratio of -9.84, a price-to-earnings-growth ratio of 3.63 and a beta of 1.53. RXO, Inc. has a 1-year low of $18.75 and a 1-year high of $32.82. The stock has a fifty day moving average price of $25.26 and a 200-day moving average price of $27.28.

RXO (NYSE:RXO - Get Free Report) last announced its 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%. Research analysts forecast that RXO, Inc. will post 0.39 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.