Franklin Resources Inc. Boosts Stake in RXO, Inc. (NYSE:RXO)

Franklin Resources Inc. grew its holdings in shares of RXO, Inc. (NYSE:RXO) by 122.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,676,628 shares of the company’s stock after acquiring an additional 923,307 shares during the period. Franklin Resources Inc. owned about 1.04% of RXO worth $39,971,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of RXO by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 17,203,721 shares of the company’s stock valued at $410,137,000 after buying an additional 2,009,937 shares during the last quarter. State Street Corp lifted its position in shares of RXO by 13.3% during the third quarter. State Street Corp now owns 5,124,927 shares of the company’s stock worth $143,498,000 after purchasing an additional 602,741 shares during the last quarter. Geode Capital Management LLC lifted its holdings in RXO by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock worth $85,563,000 after buying an additional 441,994 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in RXO by 27.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,375,410 shares of the company’s stock worth $56,629,000 after purchasing an additional 508,330 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of RXO by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,033 shares of the company’s stock worth $51,138,000 after buying an additional 76,653 shares during the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Wall Street Analyst Weigh In

RXO has been the topic of several recent research reports. Susquehanna cut their price target on RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price target on shares of RXO from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Jefferies Financial Group decreased their target price on RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Morgan Stanley dropped their price target on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Oppenheimer cut shares of RXO from an “outperform” rating to a “market perform” rating in a report on Friday. Two equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.80.

RXO Stock Down 8.4 %

Shares of RXO stock opened at $14.44 on Friday. RXO, Inc. has a twelve month low of $13.77 and a twelve month high of $32.82. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -6.81, a PEG ratio of 4.55 and a beta of 1.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.26. The stock’s 50 day simple moving average is $20.49 and its 200 day simple moving average is $24.91.

RXO (NYSE:RXO) last posted its quarterly earnings data 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, research analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

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.