Intech Investment Management LLC Decreases Stock Position in Rxo Inc $RXO

Intech Investment Management LLC lessened its position in shares of Rxo Inc (NYSE:RXO) by 32.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,057 shares of the company’s stock after selling 30,470 shares during the period. Intech Investment Management LLC’s holdings in RXO were worth $1,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in RXO by 374.1% in the 1st quarter. Wellington Management Group LLP now owns 9,259,421 shares of the company’s stock worth $176,855,000 after acquiring an additional 7,306,537 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in RXO during the first quarter valued at about $56,693,000. Nuveen LLC bought a new position in RXO during the first quarter worth about $8,107,000. Fred Alger Management LLC increased its stake in shares of RXO by 21.4% in the first quarter. Fred Alger Management LLC now owns 2,104,842 shares of the company’s stock worth $40,202,000 after purchasing an additional 371,511 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its position in shares of RXO by 4.1% in the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock valued at $58,789,000 after purchasing an additional 148,738 shares during the period. Institutional investors own 92.73% of the company’s stock.

Analysts Set New Price Targets

RXO has been the topic of a number of recent research reports. Cowen restated a “hold” rating on shares of RXO in a research note on Friday, August 8th. Barclays lowered their target price on shares of RXO from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Benchmark restated a “hold” rating on shares of RXO in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of RXO in a research report on Monday, November 17th. Finally, UBS Group decreased their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.69.

Insiders Place Their Bets

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

RXO Stock Up 5.8%

Shares of NYSE:RXO opened at $12.13 on Tuesday. The firm has a fifty day moving average price of $15.53 and a two-hundred day moving average price of $15.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.32 and a quick ratio of 1.32. Rxo Inc has a one year low of $10.43 and a one year high of $31.11. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -28.21 and a beta of 1.66.

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

RXO Company 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.