Louisiana State Employees Retirement System Buys New Holdings in Rxo Inc $RXO

Louisiana State Employees Retirement System purchased a new position in Rxo Inc (NYSE:RXO) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 72,800 shares of the company’s stock, valued at approximately $1,064,000.

A number of other institutional investors also recently bought and sold shares of the business. Finepoint Capital LP acquired a new stake in RXO during the 3rd quarter valued at approximately $111,764,000. Orbis Allan Gray Ltd increased its stake in shares of RXO by 6.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock worth $438,327,000 after acquiring an additional 2,104,597 shares during the period. Franklin Resources Inc. raised its holdings in shares of RXO by 91.2% during the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after purchasing an additional 1,110,530 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of RXO during the fourth quarter worth $11,224,000. Finally, Wellington Management Group LLP lifted its position in RXO by 7.9% during the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after purchasing an additional 735,810 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Stock Performance

RXO opened at $26.59 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a fifty day moving average price of $24.20 and a 200 day moving average price of $18.10. Rxo Inc has a 1 year low of $10.43 and a 1 year high of $29.86. The stock has a market cap of $4.39 billion, a P/E ratio of -43.59 and a beta of 2.03.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. Equities research analysts anticipate that Rxo Inc will post 0.07 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on RXO. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $18.00 price target on shares of RXO in a report on Friday, May 8th. Weiss Ratings upgraded RXO from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. Barclays boosted their price objective on RXO from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Zacks Research upgraded RXO from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Truist Financial raised their target price on RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.00.

RXO Company Profile

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.