Royce & Associates LP Increases Stake in RXO, Inc. (NYSE:RXO)

Royce & Associates LP grew its stake in RXO, Inc. (NYSE:RXO) by 32.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,000 shares of the company’s stock after purchasing an additional 13,000 shares during the period. Royce & Associates LP’s holdings in RXO were worth $1,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RXO. Oregon Public Employees Retirement Fund raised its holdings in shares of RXO by 1.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 32,863 shares of the company’s stock valued at $783,000 after acquiring an additional 500 shares during the last quarter. Blue Trust Inc. raised its stake in RXO by 79.7% during the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after purchasing an additional 510 shares during the period. Mutual of America Capital Management LLC boosted its holdings in RXO by 2.7% in the 4th quarter. Mutual of America Capital Management LLC now owns 21,190 shares of the company’s stock valued at $505,000 after purchasing an additional 551 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares during the period. Finally, Glenmede Trust Co. NA increased its holdings in shares of RXO by 4.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 13,923 shares of the company’s stock worth $390,000 after buying an additional 650 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group cut their target price on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Stifel Nicolaus cut their price objective on RXO from $27.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on shares of RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of RXO in a report on Friday, March 7th. They issued a “hold” rating and a $19.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, RXO presently has an average rating of “Hold” and a consensus target price of $25.80.

RXO Price Performance

RXO stock opened at $18.96 on Friday. The stock has a 50-day moving average price of $22.03 and a two-hundred day moving average price of $25.56. The company has a market cap of $3.10 billion, a PE ratio of -8.94, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. RXO, Inc. has a 12-month low of $17.50 and a 12-month high of $32.82.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, research analysts predict that RXO, Inc. will post 0.31 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.