Illinois Municipal Retirement Fund Grows Stock Position in RXO, Inc. (NYSE:RXO)

Illinois Municipal Retirement Fund increased its holdings in RXO, Inc. (NYSE:RXO) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,190 shares of the company’s stock after buying an additional 543 shares during the period. Illinois Municipal Retirement Fund’s holdings in RXO were worth $1,513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of RXO by 1.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after buying an additional 820 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in RXO by 2.4% in the 4th quarter. Hohimer Wealth Management LLC now owns 46,405 shares of the company’s stock valued at $1,079,000 after purchasing an additional 1,109 shares in the last quarter. GAMMA Investing LLC purchased a new position in RXO in the 4th quarter valued at about $27,000. Texas Permanent School Fund Corp lifted its holdings in RXO by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 102,420 shares of the company’s stock valued at $2,240,000 after purchasing an additional 1,348 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in RXO by 62.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,181 shares of the company’s stock valued at $121,000 after purchasing an additional 1,987 shares in the last quarter. 92.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RXO shares. Susquehanna increased their price objective on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a report on Monday, March 25th. Raymond James began coverage on shares of RXO in a research note on Wednesday, May 15th. They set a “market perform” rating on the stock. TD Cowen lifted their price objective on shares of RXO from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on shares of RXO from $16.00 to $25.00 and gave the company an “underweight” rating in a research note on Tuesday, July 9th. Finally, Stephens reiterated an “equal weight” rating and set a $22.00 price objective on shares of RXO in a research note on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.11.

RXO Trading Down 0.3 %

RXO stock opened at $27.10 on Monday. RXO, Inc. has a twelve month low of $16.94 and a twelve month high of $28.36. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50 day simple moving average of $22.21 and a 200-day simple moving average of $21.57.

RXO (NYSE:RXO) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $913.00 million during the quarter, compared to the consensus estimate of $929.50 million. RXO had a negative net margin of 0.29% and a positive return on equity of 3.23%. The firm’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, sell-side analysts expect that RXO, Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other RXO news, major shareholder Mfn Partners, Lp acquired 870,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was purchased at an average price of $19.52 per share, with a total value of $16,982,400.00. Following the completion of the acquisition, the insider now directly owns 16,675,369 shares in the company, valued at approximately $325,503,202.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 1,122,921 shares of company stock valued at $21,994,306 over the last 90 days. 1.80% of the stock is owned by company insiders.

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.