Jennison Associates LLC Invests $792,000 in RXO, Inc. (NYSE:RXO)

Jennison Associates LLC acquired a new position in shares of RXO, Inc. (NYSE:RXO) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 28,290 shares of the company’s stock, valued at approximately $792,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RXO. GAMMA Investing LLC boosted its position in RXO by 40.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock worth $50,000 after acquiring an additional 510 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in RXO during the second quarter worth $112,000. KBC Group NV grew its position in RXO by 28.1% in the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock valued at $114,000 after purchasing an additional 890 shares in the last quarter. City Holding Co. grew its position in RXO by 57.9% in the third quarter. City Holding Co. now owns 5,241 shares of the company’s stock valued at $147,000 after purchasing an additional 1,921 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its stake in RXO by 29.6% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 5,304 shares of the company’s stock valued at $149,000 after buying an additional 1,212 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RXO. JPMorgan Chase & Co. increased their price objective on shares of RXO from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Jefferies Financial Group decreased their price target on RXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley boosted their price target on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Wells Fargo & Company reissued an “equal weight” rating and issued a $31.00 target price on shares of RXO in a research note on Monday, November 11th. Finally, Citigroup lowered shares of RXO from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.47.

RXO Trading Up 1.6 %

RXO stock opened at $28.36 on Friday. RXO, Inc. has a 52 week low of $18.75 and a 52 week high of $32.82. The company has a market capitalization of $4.56 billion, a PE ratio of -14.32, a price-to-earnings-growth ratio of 15.04 and a beta of 1.33. The company’s 50-day simple moving average is $28.02 and its 200 day simple moving average is $26.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33.

RXO (NYSE:RXO) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $956.19 million. RXO had a negative net margin of 6.81% and a positive return on equity of 1.64%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 EPS. As a group, sell-side analysts anticipate that RXO, Inc. will post 0.12 earnings per share for the current year.

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.