Raymond James Financial Services Advisors Inc. Has $537,000 Stake in RXO, Inc. (NYSE:RXO)

Raymond James Financial Services Advisors Inc. decreased its holdings in RXO, Inc. (NYSE:RXO) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,083 shares of the company’s stock after selling 665 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in RXO were worth $537,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in RXO by 16.3% in the 2nd quarter. BlackRock Inc. now owns 18,527,587 shares of the company’s stock valued at $420,020,000 after buying an additional 2,595,713 shares during the period. State Street Corp increased its holdings in RXO by 15.7% in the 2nd quarter. State Street Corp now owns 4,509,809 shares of the company’s stock valued at $102,237,000 after buying an additional 610,359 shares during the period. Douglas Lane & Associates LLC increased its holdings in RXO by 31.2% in the 3rd quarter. Douglas Lane & Associates LLC now owns 2,330,507 shares of the company’s stock valued at $45,981,000 after buying an additional 554,078 shares during the period. Dimensional Fund Advisors LP increased its holdings in RXO by 34.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,059,826 shares of the company’s stock valued at $40,453,000 after buying an additional 532,311 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in RXO by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,965,164 shares of the company’s stock valued at $38,773,000 after buying an additional 23,497 shares during the period. 92.73% of the stock is owned by institutional investors.

RXO Stock Down 1.6 %

Shares of NYSE RXO opened at $18.93 on Friday. The company has a market capitalization of $2.23 billion, a P/E ratio of 473.37, a price-to-earnings-growth ratio of 7.21 and a beta of 1.08. RXO, Inc. has a 52-week low of $16.94 and a 52-week high of $24.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50 day moving average price is $20.97 and its 200-day moving average price is $20.85.

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, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $978.00 million for the quarter, compared to the consensus estimate of $996.33 million. RXO had a net margin of 0.10% and a return on equity of 6.11%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. Equities analysts forecast that RXO, Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at RXO

In related news, major shareholder Mfn Partners, Lp bought 747,424 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were bought at an average price of $20.25 per share, for a total transaction of $15,135,336.00. Following the transaction, the insider now directly owns 13,755,649 shares of the company’s stock, valued at $278,551,892.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 1,708,268 shares of company stock worth $35,318,646. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Oppenheimer decreased their target price on shares of RXO from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, February 13th. Stifel Nicolaus lifted their price target on shares of RXO from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Bank of America lowered shares of RXO from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $22.00 in a report on Thursday, February 8th. TD Cowen lifted their price target on shares of RXO from $16.50 to $19.50 and gave the company a “market perform” rating in a report on Friday, February 9th. Finally, Susquehanna lifted their price target on shares of RXO from $15.00 to $16.00 and gave the company a “negative” rating in a report on Monday, March 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, RXO currently has an average rating of “Hold” and an average price target of $20.23.

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.