Picton Mahoney Asset Management Trims Stock Position in RXO, Inc. (NYSE:RXO)

Picton Mahoney Asset Management lessened its holdings in RXO, Inc. (NYSE:RXO) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 382,273 shares of the company’s stock after selling 5,283 shares during the quarter. Picton Mahoney Asset Management’s holdings in RXO were worth $9,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its stake in shares of RXO by 439.5% in the 3rd quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after purchasing an additional 38,970 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of RXO in the 4th quarter valued at about $2,004,000. JPMorgan Chase & Co. increased its stake in shares of RXO by 71.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 272,062 shares of the company’s stock valued at $7,618,000 after purchasing an additional 113,685 shares in the last quarter. Tectonic Advisors LLC purchased a new position in shares of RXO in the 4th quarter valued at about $1,066,000. Finally, Bank of New York Mellon Corp increased its stake in shares of RXO by 7.4% in the 4th quarter. Bank of New York Mellon Corp now owns 939,846 shares of the company’s stock valued at $22,406,000 after purchasing an additional 64,522 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Trading Up 1.5 %

RXO opened at $18.51 on Friday. RXO, Inc. has a one year low of $17.50 and a one year high of $32.82. The stock has a market capitalization of $3.02 billion, a PE ratio of -8.73, a P/E/G ratio of 4.55 and a beta of 1.67. The business’s 50 day moving average price is $22.55 and its 200 day moving average price is $25.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. RXO had a positive return on equity of 1.53% and a negative net margin of 6.26%. As a group, equities research analysts expect that RXO, Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on RXO. Jefferies Financial Group cut their price target on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. The Goldman Sachs Group cut their price objective on RXO from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Barclays cut their price objective on RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Truist Financial initiated coverage on RXO in a research note on Thursday. They set a “buy” rating and a $24.00 price objective for the company. Finally, Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and a consensus target price of $25.80.

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.