Wellington Management Group LLP Raises Holdings in RXO, Inc. (NYSE:RXO)

Wellington Management Group LLP increased its holdings in RXO, Inc. (NYSE:RXO) by 24.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,952,884 shares of the company’s stock after acquiring an additional 387,766 shares during the period. Wellington Management Group LLP’s holdings in RXO were worth $46,557,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RXO. Wealth Enhancement Advisory Services LLC grew its holdings in shares of RXO by 48.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,115 shares of the company’s stock worth $432,000 after purchasing an additional 5,874 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in RXO during the fourth quarter worth about $3,738,000. Mackenzie Financial Corp boosted its stake in RXO by 37.2% during the fourth quarter. Mackenzie Financial Corp now owns 9,967 shares of the company’s stock worth $238,000 after buying an additional 2,700 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in RXO by 15.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 285,504 shares of the company’s stock worth $6,806,000 after buying an additional 37,916 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of RXO during the 4th quarter worth approximately $1,493,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Stock Performance

Shares of RXO stock opened at $15.75 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -7.43, a price-to-earnings-growth ratio of 4.55 and a beta of 1.71. The stock has a 50 day simple moving average of $15.20 and a 200-day simple moving average of $21.08. RXO, Inc. has a 12-month low of $12.19 and a 12-month high of $32.82. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays lowered their price objective on shares of RXO from $24.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. The Goldman Sachs Group decreased their target price on RXO from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Susquehanna reduced their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on RXO in a research note on Friday, March 7th. They issued a “hold” rating and a $19.00 price objective for the company. Finally, Citigroup reiterated a “neutral” rating and issued a $18.00 price objective (up previously from $15.00) on shares of RXO in a research note on Wednesday, May 21st. 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 stock. Based on data from MarketBeat, RXO has an average rating of “Hold” and an average price target of $20.00.

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.