Prudential Financial Inc. Purchases 2,820 Shares of RXO, Inc. (NYSE:RXO)

Prudential Financial Inc. lifted its holdings in shares of RXO, Inc. (NYSE:RXO) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,351 shares of the company’s stock after purchasing an additional 2,820 shares during the quarter. Prudential Financial Inc. owned approximately 0.09% of RXO worth $3,417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of RXO by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock worth $410,137,000 after buying an additional 2,009,937 shares during the last quarter. Zimmer Partners LP acquired a new stake in RXO in the 3rd quarter worth approximately $22,680,000. Franklin Resources Inc. acquired a new stake in RXO in the 3rd quarter worth approximately $22,344,000. State Street Corp grew its holdings in RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after purchasing an additional 602,741 shares during the last quarter. Finally, Barclays PLC raised its position in shares of RXO by 185.5% in the third quarter. Barclays PLC now owns 908,873 shares of the company’s stock valued at $25,449,000 after purchasing an additional 590,530 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Performance

NYSE:RXO opened at $18.93 on Wednesday. The firm has a market capitalization of $3.09 billion, a PE ratio of -8.93, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67. The company has a quick ratio of 1.33, a current ratio of 1.26 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. The firm has a 50-day moving average price of $21.05 and a 200 day moving average price of $25.09.

RXO (NYSE:RXO) last issued its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. Research analysts anticipate that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays decreased their price objective on shares of RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Morgan Stanley lowered their price target on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company cut their price objective on RXO from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Jefferies Financial Group lowered their target price on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a report on Friday, March 7th. They set a “hold” rating and a $19.00 price target for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.33.

About RXO

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.