Douglas Lane & Associates LLC Acquires 2,881 Shares of RXO, Inc. (NYSE:RXO)

Douglas Lane & Associates LLC grew its holdings in RXO, Inc. (NYSE:RXO) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,674,661 shares of the company’s stock after purchasing an additional 2,881 shares during the quarter. Douglas Lane & Associates LLC’s holdings in RXO were worth $63,764,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RXO. GAMMA Investing LLC boosted its position in 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 buying an additional 510 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after acquiring an additional 570 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in RXO by 2.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock valued at $668,000 after acquiring an additional 575 shares during the last quarter. Glenmede Trust Co. NA increased its position in RXO by 4.9% in the third quarter. Glenmede Trust Co. NA now owns 13,923 shares of the company’s stock worth $390,000 after purchasing an additional 650 shares during the period. Finally, Arizona State Retirement System raised its holdings in RXO by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock worth $860,000 after purchasing an additional 751 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

RXO has been the subject of a number of analyst reports. Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a report on Tuesday, November 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 price objective on shares of RXO in a research report on Monday, November 18th. Susquehanna lowered their target price on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday, November 12th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company lowered their price objective on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus target price of $26.27.

RXO Stock Down 0.4 %

RXO traded down $0.10 on Wednesday, hitting $25.20. 258,733 shares of the company were exchanged, compared to its average volume of 819,538. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s fifty day moving average is $27.36 and its 200-day moving average is $27.83. The company has a market cap of $4.05 billion, a PE ratio of -12.73, a PEG ratio of 15.82 and a beta of 1.52. RXO, Inc. has a 12 month low of $18.75 and a 12 month high of $32.82.

RXO (NYSE:RXO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that RXO, Inc. will post 0.12 EPS for the current fiscal year.

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.