Loomis Sayles & Co. L P Acquires Shares of 998,709 RXO, Inc. (NYSE:RXO)

Loomis Sayles & Co. L P bought a new position in shares of RXO, Inc. (NYSE:RXO) during the 3rd quarter, HoldingsChannel reports. The fund bought 998,709 shares of the company’s stock, valued at approximately $27,964,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in RXO by 40.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,784 shares of the company’s stock valued at $50,000 after buying an additional 510 shares during the period. Oppenheimer Asset Management Inc. raised its position in RXO by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 25,537 shares of the company’s stock valued at $668,000 after purchasing an additional 575 shares in the last quarter. Arizona State Retirement System lifted its stake in RXO by 2.3% during the second quarter. Arizona State Retirement System now owns 32,906 shares of the company’s stock worth $860,000 after purchasing an additional 751 shares during the last quarter. KBC Group NV boosted its holdings in shares of RXO by 28.1% in the 3rd 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. Finally, Louisiana State Employees Retirement System increased its stake in shares of RXO by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 59,100 shares of the company’s stock valued at $1,545,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 92.73% of the company’s stock.

RXO Trading Up 7.3 %

RXO opened at $30.42 on Tuesday. RXO, Inc. has a twelve month low of $18.75 and a twelve month high of $32.82. The company has a fifty day moving average of $28.11 and a 200-day moving average of $26.47. The stock has a market cap of $4.89 billion, a PE ratio of -15.36, a price-to-earnings-growth ratio of 15.28 and a beta of 1.33. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RXO shares. Susquehanna decreased their price target on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley upped their target price on RXO from $19.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Citigroup downgraded RXO from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Tuesday, November 12th. UBS Group boosted their price target on RXO from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $31.00 price objective on shares of RXO in a report on Monday, November 11th. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.47.

About RXO

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.