Tectonic Advisors LLC Buys Shares of 44,712 RXO, Inc. (NYSE:RXO)

Tectonic Advisors LLC purchased a new stake in RXO, Inc. (NYSE:RXO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 44,712 shares of the company’s stock, valued at approximately $1,066,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its position in RXO by 13.3% in the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock valued at $143,498,000 after buying an additional 602,741 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of RXO by 16.9% during the third quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after buying an additional 441,994 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of RXO by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock valued at $57,915,000 after acquiring an additional 136,886 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of RXO by 14.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,867,080 shares of the company’s stock valued at $52,278,000 after acquiring an additional 239,000 shares in the last quarter. Finally, Fred Alger Management LLC grew its position in RXO by 31.9% during the 3rd quarter. Fred Alger Management LLC now owns 1,751,114 shares of the company’s stock worth $49,031,000 after acquiring an additional 423,822 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

RXO has been the subject of several research reports. Benchmark reiterated a “hold” rating on shares of RXO in a research report on Wednesday, January 15th. Stifel Nicolaus lifted their target price on shares of RXO from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Susquehanna reduced their target price on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays reduced their price objective on shares of RXO from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.79.

RXO Stock Down 15.0 %

Shares of NYSE:RXO opened at $21.48 on Thursday. RXO, Inc. has a 1 year low of $18.75 and a 1 year high of $32.82. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.33. The business’s 50-day moving average is $25.96 and its 200-day moving average is $27.55.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. On average, research analysts anticipate that RXO, Inc. will post 0.12 EPS for the current fiscal 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.