Picton Mahoney Asset Management Trims Stock Holdings in RXO, Inc. (NYSE:RXO)

Picton Mahoney Asset Management trimmed its holdings in RXO, Inc. (NYSE:RXO) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 382,273 shares of the company’s stock after selling 5,283 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.24% of RXO worth $9,113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RXO. Loomis Sayles & Co. L P purchased a new stake in shares of RXO in the third quarter worth approximately $27,964,000. Zimmer Partners LP purchased a new position in RXO during the 3rd quarter worth $22,680,000. Franklin Resources Inc. purchased a new position in RXO during the 3rd quarter worth $22,344,000. Victory Capital Management Inc. increased its holdings in RXO by 1,772.4% during the 3rd quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock worth $21,314,000 after purchasing an additional 720,574 shares during the period. Finally, State Street Corp increased its holdings in RXO by 13.3% during the 3rd quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after purchasing an additional 602,741 shares during the period. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial assumed coverage on RXO in a report on Thursday. They set a “buy” rating and a $24.00 price objective on the stock. Jefferies Financial Group reduced their price objective on RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley dropped their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Benchmark reaffirmed a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their target price on RXO from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus target price of $25.80.

RXO Stock Performance

Shares of RXO opened at $18.51 on Friday. The stock has a 50-day moving average of $22.55 and a two-hundred day moving average of $25.83. RXO, Inc. has a one year low of $17.50 and a one year high of $32.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock has a market cap of $3.02 billion, a P/E ratio of -8.73, a P/E/G ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. As a group, research analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

RXO 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.