Franklin Resources Inc. Makes New Investment in RXO, Inc. (NYSE:RXO)

Franklin Resources Inc. bought a new position in RXO, Inc. (NYSE:RXO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 753,321 shares of the company’s stock, valued at approximately $22,344,000.

A number of other large investors have also recently modified their holdings of the stock. MFN Partners Management LP grew its holdings in shares of RXO by 11.0% during the 2nd quarter. MFN Partners Management LP now owns 17,310,856 shares of the company’s stock worth $452,679,000 after acquiring an additional 1,722,301 shares during the period. State Street Corp lifted its position in 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 buying an additional 602,741 shares during the period. Geode Capital Management LLC boosted its holdings in shares of RXO by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,055,229 shares of the company’s stock valued at $85,563,000 after buying an additional 441,994 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of RXO by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,068,380 shares of the company’s stock worth $57,915,000 after buying an additional 136,886 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in RXO by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,032,929 shares of the company’s stock valued at $53,153,000 after acquiring an additional 176,041 shares during the period. Institutional investors own 92.73% of the company’s stock.

RXO Stock Performance

NYSE RXO opened at $24.83 on Friday. The company has a market cap of $3.99 billion, a P/E ratio of -12.54, a P/E/G ratio of 15.82 and a beta of 1.32. The business’s 50 day moving average price is $28.56 and its 200-day moving average price is $27.38. RXO, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $32.82. 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 (NYSE:RXO) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $956.19 million. RXO had a positive return on equity of 1.64% and a negative net margin of 6.81%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Sell-side analysts predict that RXO, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RXO shares. Citigroup cut RXO from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Tuesday, November 12th. Oppenheimer restated an “outperform” rating and set a $31.00 price objective on shares of RXO in a research note on Tuesday, September 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $29.00 price target on shares of RXO in a research report on Monday, November 18th. Benchmark restated a “hold” rating on shares of RXO in a research note on Tuesday, October 15th. Finally, Susquehanna decreased their target price on RXO from $16.00 to $12.00 and set a “negative” rating for the company in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, RXO 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.