Illinois Municipal Retirement Fund Purchases 8,528 Shares of RXO, Inc. (NYSE:RXO)

Illinois Municipal Retirement Fund lifted its position in RXO, Inc. (NYSE:RXO) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,303 shares of the company’s stock after acquiring an additional 8,528 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in RXO were worth $1,819,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock valued at $27,000 after purchasing an additional 510 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of RXO during the third quarter valued at approximately $28,000. Nomura Asset Management Co. Ltd. increased its holdings in RXO by 68.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock valued at $39,000 after buying an additional 570 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in RXO by 407.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock worth $43,000 after buying an additional 1,445 shares in the last quarter. Finally, KBC Group NV lifted its holdings in RXO by 28.1% during the third quarter. KBC Group NV now owns 4,055 shares of the company’s stock worth $114,000 after buying an additional 890 shares during the period. 92.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RXO. Wells Fargo & Company cut their price target on RXO from $31.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Benchmark reiterated a “hold” rating on shares of RXO in a research note on Wednesday, January 15th. Morgan Stanley decreased their price target on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Susquehanna lowered their price target on shares of RXO from $16.00 to $12.00 and set a “negative” rating on the stock in a report on Tuesday, November 12th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.46.

RXO Trading Up 2.9 %

NYSE RXO opened at $20.48 on Friday. RXO, Inc. has a 12-month low of $18.75 and a 12-month high of $32.82. The company has a fifty day simple moving average of $23.51 and a two-hundred day simple moving average of $26.48. The company has a current ratio of 1.26, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The stock has a market cap of $3.29 billion, a P/E ratio of -9.66, a P/E/G ratio of 4.55 and a beta of 1.53.

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

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.