RXO, Inc. (NYSE:RXO) Shares Purchased by State Street Corp

State Street Corp boosted its stake in RXO, Inc. (NYSE:RXO - Free Report) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,124,927 shares of the company's stock after buying an additional 602,741 shares during the period. State Street Corp owned approximately 3.19% of RXO worth $143,498,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC raised 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 period. Canada Pension Plan Investment Board purchased a new position in shares of RXO during the 2nd quarter worth approximately $112,000. KBC Group NV increased its holdings in RXO by 28.1% in the 3rd quarter. KBC Group NV now owns 4,055 shares of the company's stock valued at $114,000 after purchasing an additional 890 shares during the last quarter. City Holding Co. raised its position in RXO by 57.9% in the third quarter. City Holding Co. now owns 5,241 shares of the company's stock valued at $147,000 after purchasing an additional 1,921 shares during the period. Finally, Quintet Private Bank Europe S.A. lifted its stake in RXO by 29.6% during the third quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company's stock worth $149,000 after purchasing an additional 1,212 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company's stock.

RXO Stock Performance

RXO stock traded down $0.98 during trading on Friday, hitting $27.29. The company had a trading volume of 823,436 shares, compared to its average volume of 855,430. RXO, Inc. has a 1-year low of $18.75 and a 1-year high of $32.82. The firm has a 50-day moving average price of $28.70 and a 200-day moving average price of $27.21. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a market cap of $4.39 billion, a PE ratio of -13.78, a price-to-earnings-growth ratio of 16.74 and a beta of 1.32.

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. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts expect that RXO, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RXO shares. Wells Fargo & Company reiterated an "equal weight" rating and set a $31.00 price target on shares of RXO in a research note on Monday, November 11th. Susquehanna reduced their target price on shares of RXO from $16.00 to $12.00 and set a "negative" rating on the stock in a report on Tuesday, November 12th. Citigroup cut shares of RXO from a "buy" rating to a "neutral" rating and set a $33.00 price target for the company. in a research report on Tuesday, November 12th. Oppenheimer reaffirmed an "outperform" rating and set a $31.00 price objective on shares of RXO in a research report on Tuesday, September 17th. Finally, Benchmark reiterated a "hold" rating on shares of RXO in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $26.47.

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.