Massachusetts Financial Services Co. MA Acquires 23,497 Shares of RXO, Inc. (NYSE:RXO)

Massachusetts Financial Services Co. MA increased its holdings in shares of RXO, Inc. (NYSE:RXOFree Report) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,965,164 shares of the company’s stock after purchasing an additional 23,497 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.68% of RXO worth $38,773,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Swiss National Bank grew its stake in RXO by 1.0% during the third quarter. Swiss National Bank now owns 257,100 shares of the company’s stock worth $5,073,000 after purchasing an additional 2,600 shares during the period. Oppenheimer & Co. Inc. grew its stake in RXO by 7.5% during the third quarter. Oppenheimer & Co. Inc. now owns 36,318 shares of the company’s stock worth $717,000 after purchasing an additional 2,548 shares during the period. Oppenheimer Asset Management Inc. grew its stake in RXO by 9.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 20,788 shares of the company’s stock worth $410,000 after purchasing an additional 1,855 shares during the period. Boston Partners grew its stake in RXO by 68.3% during the third quarter. Boston Partners now owns 35,110 shares of the company’s stock worth $693,000 after purchasing an additional 14,245 shares during the period. Finally, New York State Common Retirement Fund grew its stake in RXO by 9.5% during the third quarter. New York State Common Retirement Fund now owns 48,981 shares of the company’s stock worth $966,000 after purchasing an additional 4,240 shares during the period. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Stock Down 2.3 %

RXO stock opened at $20.28 on Friday. The stock’s 50 day moving average is $22.31 and its 200-day moving average is $20.23. The firm has a market capitalization of $2.37 billion, a PE ratio of 507.13, a P/E/G ratio of 3.31 and a beta of 1.12. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $24.33. The company has a quick ratio of 1.29, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.

RXO (NYSE:RXOGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $978.00 million for the quarter, compared to analyst estimates of $996.33 million. RXO had a return on equity of 6.11% and a net margin of 0.10%. RXO’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. Sell-side analysts expect that RXO, Inc. will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other RXO news, Director Christine S. Breves purchased 5,100 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average cost of $19.90 per share, for a total transaction of $101,490.00. Following the completion of the acquisition, the director now owns 6,948 shares of the company’s stock, valued at approximately $138,265.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Mfn Partners, Lp bought 747,424 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was acquired at an average cost of $20.25 per share, with a total value of $15,135,336.00. Following the completion of the transaction, the insider now directly owns 13,755,649 shares of the company’s stock, valued at approximately $278,551,892.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine S. Breves bought 5,100 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was purchased at an average cost of $19.90 per share, with a total value of $101,490.00. Following the completion of the transaction, the director now directly owns 6,948 shares of the company’s stock, valued at $138,265.20. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 953,372 shares of company stock worth $19,148,700. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen raised their target price on RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a research note on Friday. Susquehanna cut their price target on RXO from $18.00 to $15.00 and set a “negative” rating on the stock in a report on Friday. Bank of America lowered RXO from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $22.00 in a report on Thursday. Vertical Research lowered RXO from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Wednesday, January 10th. Finally, Stifel Nicolaus increased their price target on RXO from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.58.

Get Our Latest Analysis on RXO

About RXO

(Free Report)

RXO, Inc provides full truckload freight transportation brokering services. The company also offers brokered services for managed transportation, last mile, and freight forwarding. RXO, Inc was founded 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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