MetLife Investment Management LLC Increases Holdings in RXO, Inc. (NYSE:RXO)

MetLife Investment Management LLC increased its position in RXO, Inc. (NYSE:RXO) by 16.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,455 shares of the company’s stock after acquiring an additional 10,993 shares during the period. MetLife Investment Management LLC’s holdings in RXO were worth $2,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MFN Partners Management LP increased its position in shares of RXO by 11.0% in the second quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock valued at $452,679,000 after buying an additional 1,722,301 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in RXO by 1,459.0% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,628,080 shares of the company’s stock valued at $42,574,000 after acquiring an additional 1,523,650 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in RXO during the third quarter worth about $27,964,000. Driehaus Capital Management LLC purchased a new stake in shares of RXO in the second quarter valued at about $19,965,000. Finally, Victory Capital Management Inc. grew its position in shares of RXO by 1,772.4% in the third quarter. Victory Capital Management Inc. now owns 761,230 shares of the company’s stock valued at $21,314,000 after purchasing an additional 720,574 shares during the last quarter. 92.73% of the stock is owned by institutional investors and hedge funds.

RXO Stock Performance

RXO stock opened at $28.35 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.33. RXO, Inc. has a one year low of $18.75 and a one year high of $32.82. The stock’s 50 day moving average price is $28.56 and its 200 day moving average price is $26.87. The firm has a market capitalization of $4.56 billion, a PE ratio of -14.80, a price-to-earnings-growth ratio of 15.64 and a beta of 1.32.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RXO. Oppenheimer reaffirmed an “outperform” rating and issued a $31.00 target price on shares of RXO in a research note on Tuesday, September 17th. Morgan Stanley upped their target price on shares of RXO from $19.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Wells Fargo & Company reiterated an “equal weight” rating and set a $31.00 price target on shares of RXO in a report on Monday, November 11th. Jefferies Financial Group reduced their price target on RXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, TD Cowen boosted their target price on shares of RXO from $23.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.