Massachusetts Financial Services Co. MA Trims Stake in RXO, Inc. (NYSE:RXO)

Massachusetts Financial Services Co. MA lessened its position in RXO, Inc. (NYSE:RXO) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,024,520 shares of the company’s stock after selling 5,316 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.64% of RXO worth $24,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RXO. The Manufacturers Life Insurance Company lifted its position in RXO by 12.7% during the third quarter. The Manufacturers Life Insurance Company now owns 74,244 shares of the company’s stock valued at $2,079,000 after buying an additional 8,377 shares during the period. FMR LLC lifted its position in RXO by 439.5% during the 3rd quarter. FMR LLC now owns 47,837 shares of the company’s stock valued at $1,339,000 after acquiring an additional 38,970 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in RXO by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 247,588 shares of the company’s stock worth $6,932,000 after acquiring an additional 4,415 shares in the last quarter. Verition Fund Management LLC purchased a new stake in RXO in the third quarter worth about $1,149,000. Finally, State Street Corp increased its stake 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 valued at $143,498,000 after purchasing an additional 602,741 shares in the last quarter. 92.73% of the stock is currently owned by institutional investors.

RXO Stock Down 8.4 %

RXO stock opened at $14.44 on Monday. RXO, Inc. has a one year low of $13.77 and a one year high of $32.82. The stock has a fifty day moving average of $20.49 and a 200 day moving average of $24.89. 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 has a market cap of $2.37 billion, a PE ratio of -6.81, a price-to-earnings-growth ratio of 4.55 and a beta of 1.60.

RXO (NYSE:RXO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, sell-side analysts predict that RXO, Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RXO shares. Stifel Nicolaus dropped their price target on RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley cut their target price on RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price target on RXO from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Jefferies Financial Group reduced their price objective on shares of RXO from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Susquehanna dropped their target price on shares of RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, RXO currently has a consensus rating of “Hold” and an average target price of $24.80.

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.