Arizona State Retirement System Sells 589 Shares of RXO, Inc. (NYSE:RXO)

Arizona State Retirement System cut its holdings in RXO, Inc. (NYSE:RXO) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,702 shares of the company’s stock after selling 589 shares during the quarter. Arizona State Retirement System’s holdings in RXO were worth $761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. bought a new position in shares of RXO during the fourth quarter worth $26,000. Allspring Global Investments Holdings LLC boosted its position in shares of RXO by 6,329.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock worth $39,000 after purchasing an additional 1,962 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of RXO during the fourth quarter worth $39,000. Ramirez Asset Management Inc. bought a new position in shares of RXO during the third quarter worth $45,000. Finally, Resources Management Corp CT ADV boosted its position in shares of RXO by 7,985.7% during the second quarter. Resources Management Corp CT ADV now owns 2,830 shares of the company’s stock worth $64,000 after purchasing an additional 2,795 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RXO. Susquehanna lifted their price target on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research report on Monday, March 25th. Bank of America cut shares of RXO from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $22.00 in a research report on Thursday, February 8th. TD Cowen raised their price objective on shares of RXO from $16.50 to $19.50 and gave the stock a “market perform” rating in a report on Friday, February 9th. Vertical Research lowered shares of RXO from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a report on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price objective on shares of 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, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.23.

Insider Transactions at RXO

In other news, major shareholder Mfn Partners, Lp acquired 919,720 shares of the stock in a transaction dated Thursday, February 8th. The shares were bought at an average cost of $21.04 per share, for a total transaction of $19,350,908.80. Following the purchase, the insider now directly owns 14,675,369 shares of the company’s stock, valued at $308,769,763.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 1,708,268 shares of company stock worth $35,318,646 in the last ninety days. Insiders own 1.50% of the company’s stock.

RXO Stock Down 1.6 %

Shares of RXO stock opened at $18.93 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $24.33. The firm’s fifty day moving average price is $20.97 and its two-hundred day moving average price is $20.85. The firm has a market capitalization of $2.23 billion, a P/E ratio of 473.37, a PEG ratio of 7.21 and a beta of 1.08.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. RXO had a net margin of 0.10% and a return on equity of 6.11%. The firm had revenue of $978.00 million for the quarter, compared to analyst estimates of $996.33 million. During the same period in the previous year, the business earned $0.28 EPS. The company’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts predict that RXO, Inc. will post 0.22 EPS for the current fiscal 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.