Swedbank AB Sells 362,000 Shares of RXO, Inc. (NYSE:RXO)

Swedbank AB lowered its position in shares of RXO, Inc. (NYSE:RXO) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,764,000 shares of the company’s stock after selling 362,000 shares during the period. Swedbank AB owned about 1.72% of RXO worth $65,894,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of RXO by 79.7% in the fourth quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after buying an additional 510 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of RXO in the third quarter worth about $28,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of RXO by 68.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after buying an additional 570 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of RXO by 407.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after buying an additional 1,445 shares during the period. Finally, GAMMA Investing LLC increased its holdings in RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after purchasing an additional 510 shares during the period. Institutional investors own 92.73% of the company’s stock.

RXO Stock Down 0.2 %

Shares of NYSE RXO opened at $25.93 on Thursday. The firm has a 50 day moving average of $26.45 and a 200 day moving average of $27.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. RXO, Inc. has a 12-month low of $18.75 and a 12-month high of $32.82.

RXO (NYSE:RXO) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $956.19 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts expect that RXO, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RXO has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on RXO from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a report on Tuesday, November 12th. Jefferies Financial Group reduced their price objective on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Finally, Barclays reduced their price objective on shares of RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.79.

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.