Swedbank AB Lowers Stock Holdings in Rxo Inc $RXO

Swedbank AB lowered its position in shares of Rxo Inc (NYSE:RXO) by 14.7% in the 1st quarter, HoldingsChannel reports. The firm owned 1,158,000 shares of the company’s stock after selling 200,000 shares during the quarter. Swedbank AB’s holdings in RXO were worth $16,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orbis Allan Gray Ltd increased its position in shares of RXO by 6.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 34,677,755 shares of the company’s stock valued at $438,327,000 after purchasing an additional 2,104,597 shares during the last quarter. Franklin Resources Inc. boosted its stake in RXO by 91.2% in the third quarter. Franklin Resources Inc. now owns 2,328,843 shares of the company’s stock worth $35,818,000 after buying an additional 1,110,530 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in RXO in the fourth quarter worth approximately $11,224,000. Wellington Management Group LLP grew its position in RXO by 7.9% during the third quarter. Wellington Management Group LLP now owns 9,998,681 shares of the company’s stock valued at $153,780,000 after acquiring an additional 735,810 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new position in RXO during the fourth quarter valued at approximately $9,098,000. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

RXO Stock Performance

Shares of RXO stock opened at $26.91 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. Rxo Inc has a 52 week low of $10.43 and a 52 week high of $29.86. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -44.11 and a beta of 2.03. The stock has a fifty day moving average of $24.79 and a 200 day moving average of $18.48.

RXO (NYSE:RXO) last announced its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). RXO had a negative net margin of 1.83% and a negative return on equity of 1.16%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts expect that Rxo Inc will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on RXO. Stifel Nicolaus raised shares of RXO from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Friday, May 15th. Bank of America decreased their target price on shares of RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Susquehanna upped their price target on shares of RXO from $14.00 to $18.00 and gave the company a “negative” rating in a research report on Friday, May 8th. Stephens raised RXO to a “hold” rating in a research note on Wednesday. Finally, Truist Financial lifted their price objective on RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, RXO currently has an average rating of “Hold” and a consensus target price of $21.46.

About RXO

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.