Legal & General Group Plc Reduces Stake in Rxo Inc $RXO

Legal & General Group Plc reduced its position in Rxo Inc (NYSE:RXO) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,554 shares of the company’s stock after selling 21,620 shares during the period. Legal & General Group Plc owned about 0.21% of RXO worth $4,343,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in RXO by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,543 shares of the company’s stock valued at $475,000 after purchasing an additional 600 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in RXO by 3.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 20,428 shares of the company’s stock worth $345,000 after buying an additional 661 shares in the last quarter. Jones Financial Companies Lllp increased its position in RXO by 27.0% during the third quarter. Jones Financial Companies Lllp now owns 3,298 shares of the company’s stock worth $49,000 after buying an additional 701 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in RXO by 1.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 49,406 shares of the company’s stock worth $624,000 after buying an additional 724 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in RXO by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 31,634 shares of the company’s stock worth $400,000 after buying an additional 972 shares in the last quarter. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RXO has been the subject of several recent research reports. TD Cowen raised their price target on RXO from $14.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Susquehanna raised their price target on RXO from $14.00 to $18.00 and gave the stock a “negative” rating in a research report on Friday, May 8th. Barclays raised their price target on RXO from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Truist Financial raised their price target on RXO from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.08.

RXO Price Performance

RXO stock opened at $28.08 on Tuesday. Rxo Inc has a 52-week low of $10.43 and a 52-week high of $28.54. The stock’s fifty day simple moving average is $20.17 and its 200-day simple moving average is $16.32. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of -46.03, a price-to-earnings-growth ratio of 28.51 and a beta of 2.08.

RXO (NYSE:RXO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm earned ($0.03) earnings per share. The business’s revenue was down .6% on a year-over-year basis. Equities research analysts expect that Rxo Inc will post 0.06 EPS for the current year.

RXO Profile

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.