City Holding Co. Trims Stock Position in Rxo Inc $RXO

City Holding Co. decreased its holdings in Rxo Inc (NYSE:RXO) by 57.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,905 shares of the company’s stock after selling 2,606 shares during the quarter. City Holding Co.’s holdings in RXO were worth $30,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. bought a new position in RXO in the first quarter worth approximately $30,000. Larson Financial Group LLC raised its holdings in RXO by 1,990.2% in the 1st quarter. Larson Financial Group LLC now owns 1,714 shares of the company’s stock worth $33,000 after purchasing an additional 1,632 shares during the period. CWM LLC lifted its position in RXO by 234.4% during the first quarter. CWM LLC now owns 1,876 shares of the company’s stock valued at $36,000 after purchasing an additional 1,315 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in RXO by 52.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company’s stock valued at $52,000 after purchasing an additional 945 shares during the period. Finally, GAMMA Investing LLC increased its position in RXO by 165.1% in the second quarter. GAMMA Investing LLC now owns 5,135 shares of the company’s stock worth $81,000 after buying an additional 3,198 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

RXO Trading Up 1.0%

RXO stock opened at $15.10 on Tuesday. The firm has a fifty day moving average price of $15.98 and a 200 day moving average price of $15.87. Rxo Inc has a fifty-two week low of $12.19 and a fifty-two week high of $31.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $2.48 billion, a PE ratio of -6.99, a price-to-earnings-growth ratio of 7.13 and a beta of 1.69.

RXO (NYSE:RXO) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. RXO had a negative net margin of 5.45% and a positive return on equity of 1.18%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $0.03 earnings per share. RXO’s revenue was up 52.6% on a year-over-year basis. Sell-side analysts anticipate that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RXO. Barclays lowered their price objective on RXO from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 12th. Wall Street Zen raised shares of RXO from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Morgan Stanley reduced their price objective on shares of RXO from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. JPMorgan Chase & Co. lowered their target price on shares of RXO from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $15.00 price target (up previously from $14.00) on shares of RXO in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.92.

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.