Maryland State Retirement & Pension System Has $989,000 Stock Holdings in RXO, Inc. (NYSE:RXO)

Maryland State Retirement & Pension System lowered its stake in RXO, Inc. (NYSE:RXO) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,523 shares of the company’s stock after selling 565 shares during the quarter. Maryland State Retirement & Pension System’s holdings in RXO were worth $989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in RXO by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,904 shares of the company’s stock worth $1,231,000 after buying an additional 820 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of RXO by 0.3% in the 3rd quarter. Rhumbline Advisers now owns 353,816 shares of the company’s stock valued at $6,981,000 after purchasing an additional 905 shares during the period. GAMMA Investing LLC bought a new position in RXO during the fourth quarter worth about $27,000. Oppenheimer Asset Management Inc. increased its position in RXO by 9.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 20,788 shares of the company’s stock worth $410,000 after buying an additional 1,855 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in RXO by 6,329.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,993 shares of the company’s stock valued at $39,000 after buying an additional 1,962 shares during the period. Institutional investors own 92.73% of the company’s stock.

Insider Activity at RXO

In related news, major shareholder Mfn Partners, Lp bought 35,985 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were purchased at an average price of $20.22 per share, for a total transaction of $727,616.70. Following the completion of the transaction, the insider now directly owns 15,629,679 shares of the company’s stock, valued at approximately $316,032,109.38. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have purchased 1,127,999 shares of company stock valued at $22,097,846. 1.80% of the stock is owned by insiders.

RXO Stock Performance

NYSE RXO opened at $20.72 on Friday. The firm’s 50 day simple moving average is $20.55 and its 200 day simple moving average is $20.93. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -230.22, a P/E/G ratio of 7.91 and a beta of 1.24. The company has a current ratio of 1.14, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. RXO, Inc. has a 1 year low of $16.94 and a 1 year high of $24.33.

RXO (NYSE:RXO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $929.50 million. RXO had a positive return on equity of 3.23% and a negative net margin of 0.29%. RXO’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, research analysts expect that RXO, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Oppenheimer cut their price target on RXO from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, February 13th. Susquehanna raised their price objective on shares of RXO from $15.00 to $16.00 and gave the stock a “negative” rating in a research report on Monday, March 25th. Stephens reaffirmed an “equal weight” rating and issued a $22.00 target price on shares of RXO in a research report on Monday. Bank of America downgraded RXO from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a research note on Thursday, February 8th. Finally, TD Cowen increased their price objective on RXO from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.55.

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.