Primecap Management Co. CA Has $19.28 Million Position in RXO, Inc. (NYSE:RXO)

Primecap Management Co. CA boosted its holdings in shares of RXO, Inc. (NYSE:RXOFree Report) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 829,000 shares of the company’s stock after acquiring an additional 10,500 shares during the quarter. Primecap Management Co. CA owned approximately 0.71% of RXO worth $19,283,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC raised its holdings in shares of RXO by 10.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 2,579,390 shares of the company’s stock valued at $59,997,000 after purchasing an additional 248,883 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in RXO by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock worth $38,773,000 after buying an additional 23,497 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in RXO by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after buying an additional 93,885 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of RXO by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,519 shares of the company’s stock worth $42,415,000 after buying an additional 141,056 shares during the last quarter. Finally, Fred Alger Management LLC boosted its stake in shares of RXO by 18.9% during the 3rd quarter. Fred Alger Management LLC now owns 1,452,879 shares of the company’s stock worth $28,665,000 after acquiring an additional 230,664 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RXO. Bank of America lowered RXO from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $22.00 in a report on Thursday, February 8th. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Friday, April 19th. Stephens reiterated an “equal weight” rating and issued a $22.00 target price on shares of RXO in a research note on Monday, May 6th. TD Cowen boosted their target price on shares of RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Susquehanna raised their price target on RXO from $15.00 to $16.00 and gave the company a “negative” rating in a research report on Monday, March 25th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.90.

Check Out Our Latest Analysis on RXO

Insider Transactions at RXO

In related news, major shareholder Mfn Partners, Lp purchased 100,000 shares of the stock in a transaction on Wednesday, April 24th. The shares were purchased at an average cost of $19.44 per share, for a total transaction of $1,944,000.00. Following the completion of the transaction, the insider now directly owns 17,075,369 shares of the company’s stock, valued at approximately $331,945,173.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 1,128,060 shares of company stock valued at $22,099,090. Corporate insiders own 1.80% of the company’s stock.

RXO Stock Performance

RXO stock traded up $0.23 during trading hours on Friday, hitting $20.33. The stock had a trading volume of 347,289 shares, compared to its average volume of 536,440. RXO, Inc. has a fifty-two week low of $16.94 and a fifty-two week high of $24.33. The company has a market cap of $2.39 billion, a PE ratio of -225.89, a price-to-earnings-growth ratio of 7.01 and a beta of 1.24. The company has a 50-day moving average of $20.51 and a two-hundred day moving average of $21.15. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXOGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The business’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 EPS. On average, equities research analysts anticipate that RXO, Inc. will post 0.19 EPS for the current fiscal year.

About RXO

(Free Report)

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.

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Institutional Ownership by Quarter for RXO (NYSE:RXO)

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