New York State Common Retirement Fund Increases Stake in Rxo Inc $RXO

New York State Common Retirement Fund increased its position in shares of Rxo Inc (NYSE:RXO) by 35.6% in the second quarter, Holdings Channel.com reports. The firm owned 653,759 shares of the company’s stock after purchasing an additional 171,516 shares during the quarter. New York State Common Retirement Fund’s holdings in RXO were worth $10,277,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RXO. Yousif Capital Management LLC raised its position in RXO by 1.2% in the 2nd quarter. Yousif Capital Management LLC now owns 53,228 shares of the company’s stock worth $837,000 after purchasing an additional 631 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in RXO by 25.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company’s stock valued at $54,000 after purchasing an additional 688 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in RXO by 1.8% in the second quarter. Maryland State Retirement & Pension System now owns 41,910 shares of the company’s stock worth $659,000 after purchasing an additional 751 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in RXO by 5.8% in the second quarter. Teacher Retirement System of Texas now owns 16,154 shares of the company’s stock worth $254,000 after purchasing an additional 892 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN lifted its position in shares of RXO by 0.6% during the second quarter. Kirr Marbach & Co. LLC IN now owns 189,980 shares of the company’s stock valued at $2,986,000 after buying an additional 1,154 shares during the last quarter. 92.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other RXO news, Director Thomas A. Szlosek purchased 20,308 shares of RXO stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $12.37 per share, with a total value of $251,209.96. Following the transaction, the director owned 36,508 shares of the company’s stock, valued at $451,603.96. This represents a 125.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew M. Wilkerson acquired 7,775 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $12.88 per share, for a total transaction of $100,142.00. Following the completion of the acquisition, the chief executive officer directly owned 7,775 shares in the company, valued at approximately $100,142. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 40,250 shares of company stock worth $488,875. 2.80% of the stock is owned by company insiders.

RXO Stock Performance

Shares of RXO stock opened at $14.21 on Friday. The business has a fifty day moving average of $15.06 and a 200 day moving average of $15.70. Rxo Inc has a 1 year low of $10.43 and a 1 year high of $29.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -33.04 and a beta of 1.74.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a negative net margin of 1.25% and a positive return on equity of 0.88%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. As a group, research analysts expect that Rxo Inc will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Susquehanna cut their price objective on shares of RXO from $11.00 to $10.00 and set a “negative” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of RXO in a report on Monday, November 24th. Truist Financial reduced their price target on RXO from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Morgan Stanley raised RXO from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective for the company in a research report on Tuesday, November 11th. Finally, Wall Street Zen downgraded RXO from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.69.

RXO Company 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.