RXO, Inc. (NYSE:RXO) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of RXO, Inc. (NYSE:RXO - Free Report) by 29.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,126 shares of the company's stock after selling 27,813 shares during the period. State of New Jersey Common Pension Fund D's holdings in RXO were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd acquired a new position in shares of RXO in the first quarter worth about $542,000. Boston Partners raised its position in shares of RXO by 150.0% during the 1st quarter. Boston Partners now owns 42,526 shares of the company's stock worth $930,000 after purchasing an additional 25,519 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in RXO by 225.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,847 shares of the company's stock valued at $2,380,000 after buying an additional 75,395 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in RXO by 1,459.0% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company's stock worth $42,574,000 after buying an additional 1,523,650 shares during the last quarter. Finally, Swedbank AB purchased a new stake in RXO during the 1st quarter worth approximately $76,982,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Performance

NYSE RXO traded up $0.31 on Tuesday, hitting $27.43. 191,601 shares of the company's stock were exchanged, compared to its average volume of 857,633. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. The firm's 50-day moving average price is $27.85 and its two-hundred day moving average price is $26.19. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -13.70, a P/E/G ratio of 14.68 and a beta of 1.33. RXO, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $32.82.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup downgraded RXO from a "buy" rating to a "neutral" rating and set a $33.00 price objective for the company. in a research note on Tuesday, November 12th. Oppenheimer reiterated an "outperform" rating and set a $31.00 price target on shares of RXO in a report on Tuesday, September 17th. UBS Group increased their target price on shares of RXO from $22.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of RXO from $25.00 to $26.00 and gave the stock an "underweight" rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group lowered their target price on shares of RXO from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th. Two 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. Based on data from MarketBeat.com, RXO has a consensus rating of "Hold" and a consensus target price of $26.47.

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.