Primecap Management Co. CA Increases Stock Position in RXO, Inc. (NYSE:RXO)

Primecap Management Co. CA boosted its stake in RXO, Inc. (NYSE:RXO) by 20.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020,900 shares of the company’s stock after purchasing an additional 175,300 shares during the quarter. Primecap Management Co. CA owned about 0.87% of RXO worth $26,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in RXO by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,869,583 shares of the company’s stock valued at $43,489,000 after purchasing an additional 93,885 shares in the last quarter. Douglas Lane & Associates LLC grew its position in RXO by 2.6% during the first quarter. Douglas Lane & Associates LLC now owns 2,646,147 shares of the company’s stock valued at $57,871,000 after acquiring an additional 66,757 shares during the last quarter. Norges Bank bought a new position in RXO during the fourth quarter valued at approximately $24,250,000. GSA Capital Partners LLP grew its position in RXO by 433.8% during the first quarter. GSA Capital Partners LLP now owns 56,002 shares of the company’s stock valued at $1,225,000 after acquiring an additional 45,510 shares during the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in RXO during the first quarter valued at approximately $542,000. 92.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on RXO shares. Jefferies Financial Group reduced their price target on shares of RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Morgan Stanley increased their price target on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Barclays raised their target price on shares of RXO from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Benchmark restated a “hold” rating on shares of RXO in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and an average target price of $26.00.

RXO Stock Performance

NYSE:RXO opened at $25.89 on Wednesday. The stock has a market cap of $3.59 billion, a P/E ratio of -287.67, a price-to-earnings-growth ratio of 12.46 and a beta of 1.35. The firm’s fifty day simple moving average is $28.62 and its 200 day simple moving average is $23.83. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $32.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.64.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $930.00 million for the quarter, compared to analysts’ expectations of $934.14 million. RXO had a negative net margin of 0.55% and a positive return on equity of 2.22%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. As a group, research analysts predict that RXO, Inc. will post 0.14 EPS for the current 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.