Douglas Lane & Associates LLC Decreases Holdings in Rxo Inc $RXO

Douglas Lane & Associates LLC lessened its stake in Rxo Inc (NYSE:RXO) by 0.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,317,039 shares of the company’s stock after selling 29,303 shares during the quarter. Douglas Lane & Associates LLC’s holdings in RXO were worth $67,867,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RXO. Quintet Private Bank Europe S.A. lifted its holdings in shares of RXO by 100.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 9,400 shares of the company’s stock worth $192,000 after acquiring an additional 4,700 shares during the last quarter. Tidal Investments LLC purchased a new stake in RXO during the 2nd quarter valued at about $450,000. Integrated Wealth Concepts LLC bought a new position in RXO during the 2nd quarter worth approximately $133,000. Nykredit A S bought a new position in RXO during the 2nd quarter worth approximately $67,000. Finally, Corient Private Wealth LP increased its stake in RXO by 18.0% in the 2nd quarter. Corient Private Wealth LP now owns 29,773 shares of the company’s stock worth $821,000 after purchasing an additional 4,550 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RXO shares. Wells Fargo & Company increased their price objective on RXO from $23.00 to $30.00 and gave the company an “equal weight” rating in a research note on Tuesday. Truist Financial upped their price target on shares of RXO from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $30.00 price target on shares of RXO in a report on Friday, August 7th. UBS Group set a $19.00 price objective on shares of RXO in a research note on Wednesday, September 23rd. Finally, Jefferies Financial Group lowered shares of RXO from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.08.

RXO Stock Up 0.4%

RXO traded up $0.11 during midday trading on Friday, reaching $29.04. The company’s stock had a trading volume of 516,649 shares, compared to its average volume of 2,332,892. The stock’s 50-day moving average is $21.58 and its 200-day moving average is $22.25. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of -47.58 and a beta of 2.10. Rxo Inc has a 1 year low of $10.43 and a 1 year high of $29.90. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.30.

RXO (NYSE:RXO) last issued its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. RXO had a negative net margin of 1.72% and a negative return on equity of 0.98%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s revenue was up 25.0% on a year-over-year basis. As a group, research analysts expect that Rxo Inc will post 0.14 EPS for the current year.

RXO Profile

RXO, Inc is a transportation services company that provides asset-light freight brokerage and logistics solutions. The company connects shippers with independent carriers and helps coordinate the movement of truckload, less-than-truckload and other freight across North America.

RXO’s services include digital freight brokerage, managed transportation and last-mile logistics. Its brokerage business uses technology and carrier relationships to match customer shipments with available transportation capacity, while its managed transportation offerings help companies plan, coordinate and optimize freight operations.