New York State Common Retirement Fund Sells 44,729 Shares of Rxo Inc $RXO

New York State Common Retirement Fund decreased its holdings in Rxo Inc (NYSE:RXO) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 609,030 shares of the company’s stock after selling 44,729 shares during the quarter. New York State Common Retirement Fund owned approximately 0.37% of RXO worth $9,367,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Frontier Capital Management Co. LLC boosted its stake in shares of RXO by 39.6% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,801,187 shares of the company’s stock valued at $28,315,000 after purchasing an additional 511,036 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in RXO by 67.3% in the second quarter. Russell Investments Group Ltd. now owns 191,318 shares of the company’s stock valued at $3,008,000 after buying an additional 76,965 shares during the period. Edgestream Partners L.P. bought a new stake in RXO during the second quarter valued at $5,611,000. Cornerstone Wealth Group LLC acquired a new stake in RXO during the 3rd quarter worth about $4,026,000. Finally, EFG Asset Management North America Corp. raised its position in shares of RXO by 28.4% in the 2nd quarter. EFG Asset Management North America Corp. now owns 143,927 shares of the company’s stock worth $2,264,000 after acquiring an additional 31,860 shares in the last quarter. 92.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RXO. TD Cowen reiterated a “hold” rating on shares of RXO in a report on Friday, January 9th. JPMorgan Chase & Co. boosted their target price on shares of RXO from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Wednesday, October 8th. Stifel Nicolaus raised their price target on shares of RXO from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RXO in a research note on Monday, December 22nd. Finally, Citigroup cut their price objective on shares of RXO from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, RXO has an average rating of “Hold” and a consensus target price of $16.14.

RXO Stock Performance

Shares of RXO opened at $15.94 on Wednesday. Rxo Inc has a 52 week low of $10.43 and a 52 week high of $25.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day moving average price of $14.20 and a two-hundred day moving average price of $15.17. The firm has a market capitalization of $2.62 billion, a P/E ratio of -37.06, a P/E/G ratio of 7.57 and a beta of 1.74.

RXO (NYSE:RXO) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). RXO had a positive return on equity of 0.88% and a negative net margin of 1.25%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company posted $0.05 EPS. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. Equities analysts forecast that Rxo Inc will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Troy A. Cooper bought 8,317 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were purchased at an average price of $10.61 per share, with a total value of $88,243.37. Following the transaction, the director directly owned 275,416 shares in the company, valued at $2,922,163.76. This represents a 3.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew M. Wilkerson bought 7,775 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $12.88 per share, for a total transaction of $100,142.00. Following the purchase, the chief executive officer directly owned 7,775 shares in the company, valued at approximately $100,142. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 40,250 shares of company stock valued at $488,875. Corporate insiders own 1.48% of the company’s stock.

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.