Louisiana State Employees Retirement System Takes Position in Rxo Inc $RXO

Louisiana State Employees Retirement System acquired a new position in Rxo Inc (NYSE:RXO) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 72,800 shares of the company’s stock, valued at approximately $1,064,000.

Several other large investors have also recently modified their holdings of the company. Corient Private Wealth LLC purchased a new stake in RXO during the fourth quarter valued at approximately $152,000. Attestor Capital Ltd purchased a new position in RXO in the fourth quarter worth $3,610,000. Invesco Ltd. grew its holdings in RXO by 22.6% in the fourth quarter. Invesco Ltd. now owns 1,172,748 shares of the company’s stock worth $14,824,000 after purchasing an additional 216,399 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of RXO by 41.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,436 shares of the company’s stock worth $195,000 after purchasing an additional 4,499 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of RXO during the fourth quarter worth $129,000. Institutional investors own 92.73% of the company’s stock.

RXO Trading Down 0.1%

NYSE:RXO opened at $26.59 on Friday. The company has a market capitalization of $4.39 billion, a P/E ratio of -43.59 and a beta of 2.03. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Rxo Inc has a 12 month low of $10.43 and a 12 month high of $29.86. The firm has a fifty day simple moving average of $24.20 and a 200-day simple moving average of $18.10.

RXO (NYSE:RXO) last released its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. RXO had a negative return on equity of 1.16% and a negative net margin of 1.83%.The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. On average, equities research analysts anticipate that Rxo Inc will post 0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

RXO has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on RXO from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Susquehanna upped their target price on RXO from $14.00 to $18.00 and gave the company a “negative” rating in a research report on Friday, May 8th. Wells Fargo & Company increased their price target on RXO from $15.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings raised RXO from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Finally, Zacks Research upgraded RXO from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.00.

RXO Profile

RXO Inc (NYSE: RXO) is a leading asset-light provider of digital freight brokerage and managed transportation solutions. The company leverages a proprietary technology platform to connect shippers with a network of third-party carriers, enabling optimized route planning, real-time shipment tracking, and dynamic pricing. RXO’s end-to-end service model spans full truckload, less-than-truckload (LTL), intermodal and cross-border freight movements, designed to improve efficiency and reduce transportation costs for its customers.

Operating primarily across North America, RXO serves a diverse base of shippers in industries ranging from retail and consumer goods to manufacturing and automotive.