Cibc World Markets Corp Purchases Shares of 14,926 RXO, Inc. (NYSE:RXO)

Cibc World Markets Corp acquired a new position in shares of RXO, Inc. (NYSE:RXO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,926 shares of the company’s stock, valued at approximately $356,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mutual of America Capital Management LLC grew its stake in RXO by 6.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 20,639 shares of the company’s stock worth $578,000 after buying an additional 1,318 shares in the last quarter. Thrivent Financial for Lutherans grew its position in RXO by 10.5% in the third quarter. Thrivent Financial for Lutherans now owns 107,817 shares of the company’s stock worth $3,019,000 after acquiring an additional 10,235 shares in the last quarter. Intech Investment Management LLC purchased a new position in RXO in the third quarter worth $625,000. Landscape Capital Management L.L.C. bought a new position in RXO in the third quarter valued at $278,000. Finally, Charles Schwab Investment Management Inc. raised its position in RXO by 7.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock valued at $57,915,000 after purchasing an additional 136,886 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

RXO Price Performance

Shares of RXO stock opened at $19.09 on Tuesday. The company has a market cap of $3.12 billion, a PE ratio of -9.00, a P/E/G ratio of 4.55 and a beta of 1.67. The business has a 50 day moving average of $21.80 and a 200 day moving average of $25.39. RXO, Inc. has a 52 week low of $17.50 and a 52 week high of $32.82. The company has a quick ratio of 1.33, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

RXO (NYSE:RXO) last announced its earnings results on Wednesday, February 5th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. As a group, equities research analysts forecast that RXO, Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

RXO has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on RXO from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus reduced their price target on shares of RXO from $27.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Truist Financial assumed coverage on shares of RXO in a report on Thursday, March 13th. They issued a “buy” rating and a $24.00 price objective for the company. Benchmark reaffirmed a “hold” rating on shares of RXO in a report on Wednesday, January 15th. Finally, Barclays cut their price target on shares of RXO from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, RXO currently has a consensus rating of “Hold” and a consensus target price of $25.80.

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.