Zimmer Partners LP Has $9.18 Million Stake in RXO, Inc. (NYSE:RXO)

Zimmer Partners LP decreased its position in RXO, Inc. (NYSE:RXO) by 52.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 385,000 shares of the company’s stock after selling 425,000 shares during the period. Zimmer Partners LP owned about 0.24% of RXO worth $9,178,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in RXO by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock worth $410,137,000 after purchasing an additional 2,009,937 shares during the period. FIL Ltd raised its holdings in shares of RXO by 10.4% during the 4th quarter. FIL Ltd now owns 6,327,889 shares of the company’s stock valued at $150,857,000 after purchasing an additional 596,158 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of RXO by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 3,362,721 shares of the company’s stock valued at $80,185,000 after purchasing an additional 307,492 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of RXO by 27.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company’s stock valued at $56,629,000 after purchasing an additional 508,330 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in RXO by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock worth $51,138,000 after acquiring an additional 76,653 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Analyst Ratings Changes

RXO has been the subject of a number of research analyst reports. Susquehanna cut their target price on shares of RXO from $18.00 to $13.00 and set a “negative” rating for the company in a research report on Wednesday, March 26th. Barclays cut their target price on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. UBS Group dropped their price objective on shares of RXO from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Bank of America boosted their price objective on shares of RXO from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.80.

RXO Stock Performance

NYSE RXO opened at $16.83 on Tuesday. The stock has a market cap of $2.76 billion, a P/E ratio of -7.94, a PEG ratio of 4.55 and a beta of 1.71. The company’s 50-day simple moving average is $15.72 and its 200 day simple moving average is $21.74. RXO, Inc. has a twelve month low of $12.19 and a twelve month high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO) last posted its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.51 billion. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. The business’s revenue was up 57.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) EPS. As a group, research analysts forecast that RXO, Inc. will post 0.31 earnings per share for the current fiscal year.

About RXO

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.