RXO, Inc. (NYSE:RXO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in RXO, Inc. (NYSE:RXO) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,222 shares of the company’s stock after purchasing an additional 66,159 shares during the period. Principal Financial Group Inc. owned about 0.40% of RXO worth $18,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MFN Partners Management LP grew its position in RXO by 11.0% in the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after buying an additional 1,722,301 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of RXO by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 13,294,483 shares of the company’s stock worth $290,750,000 after acquiring an additional 45,977 shares during the last quarter. Swedbank AB purchased a new stake in shares of RXO during the first quarter valued at $76,982,000. Douglas Lane & Associates LLC boosted its position in shares of RXO by 2.0% in the 2nd quarter. Douglas Lane & Associates LLC now owns 2,698,525 shares of the company’s stock valued at $70,566,000 after purchasing an additional 52,378 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in RXO by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock worth $53,153,000 after purchasing an additional 176,041 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

RXO Stock Performance

RXO stock opened at $27.48 on Friday. The firm has a 50 day moving average of $27.84 and a two-hundred day moving average of $25.99. RXO, Inc. has a 12 month low of $18.75 and a 12 month high of $32.82. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -13.88, a P/E/G ratio of 13.01 and a beta of 1.33. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

RXO (NYSE:RXO) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. As a group, equities analysts anticipate that RXO, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Benchmark reaffirmed a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Morgan Stanley lifted their price objective on shares of RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Oppenheimer restated an “outperform” rating and issued a $31.00 target price on shares of RXO in a report on Tuesday, September 17th. Wells Fargo & Company reiterated an “equal weight” rating and set a $31.00 price target on shares of RXO in a report on Monday. Finally, Susquehanna reduced their price objective on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, RXO presently has an average rating of “Hold” and an average target price of $26.29.

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.