RXO (RXO)
Matches shippers with independent truck capacity and complementary managed transportation and last-mile services.
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Arranges truck brokerage, managed transportation, last-mile delivery and freight forwarding for shippers. Truck brokerage is the largest service, with contract and spot pricing supported by an asset-light network of independent carriers concentrated in North America.
Matches shippers with independent carriers through contract and spot truck brokerage, its largest service. Managed transportation adds load planning, procurement, control-tower visibility and expedited freight, while last mile coordinates heavy-goods delivery for retailers and manufacturers. Freight forwarding covers ocean and air moves, customs brokerage and domestic middle mile. Most revenue is generated in the United States, and the operations are reported as one segment.
RXO Connect links shipper and carrier workflows for posting, bidding, booking and tracking loads, combining automated matching and pricing with brokerage teams. The asset-light model keeps transportation with third parties, making carrier relationships and purchased capacity central to execution. Operations depend on shipper demand, available third-party capacity and carrier rates; U.S. motor-carrier activities are licensed by the FMCSA, and the contractor model remains exposed to worker-classification rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Wells Fargo | Reiterate | Rating: —Target: $22 | Target: $23 |
| Aug 7, 2026 | Truist Financial | Target | Target: $26 | Target: $28 |
| Aug 7, 2026 | Stifel Nicolaus | Target | Target: $30 | Target: $31 |
| Aug 7, 2026 | UBS | Reiterate | Rating: —Target: $26 | Target: $23 |
| Aug 7, 2026 | William Blair | Target | Target: — | Target: $30 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $15.0M · Total debt $728.0M · Total assets $3.46B · Shareholders' equity $1.51B
- Revenue
- $1.77B
- Operating income
- $1.0M
- Net income
- −$9.0M
No dividends on record.
| Institutions | ≈ 111.23% | 183.43M shares | |
|---|---|---|---|
| 320 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.42% | 2.34M shares | |
| 13 holders · as of Aug 25, 2026 | |||
| Strategic holders | 19.82% | 32.69M shares | |
| 1 holder · as of Feb 17, 2026 | |||
| Adds to | 132.47% | ||
164.92M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 132.47%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Orbis Allan Gray LtdInstitution | 22.07% | 36.40M | as of Jun 30, 2026 |
Orbis Investment Management LimitedInstitution | 21.03% | 34.69M | filed May 15, 2026 |
MFN Partners, LP1,2Strategic10 percent owner | 19.82% | 32.15M | filed Feb 17, 2026 |
MFN Partners Management, LPInstitution | 17.04% | 28.11M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 15.24% | 25.14M | as of Jun 30, 2026 |
- MFN Partners, LP's transaction reports restate only vehicles that traded; the 2025 ownership statement (32.15M) plus the 532.3K net shares acquired since is used instead.
- MFN Partners, LP reports a block also reported by MFN Partners Management, LP; it is counted once, under MFN Partners Management, LP.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Feb 12, 2026 | MFN Partners, LP | 10 percent owner | +532,276 | $12.00 |
| Nov 20, 2025 | Troy A. Cooper | director | +8,317 | $10.61 |
| Nov 17, 2025 | Adrian Kingshott | director | +9,350 | $10.75 |
| Nov 7, 2025 | Thomas A. Szlosek | director | +20,308 | $12.37 |
| Nov 10, 2025 | Jason S. Kerr | officer: Chief Accounting Officer | −33,343 | $11.57 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| RXO | $19.88 | +0.81% | $3.25B | — | 57.6 | 0.5 | +25.0% |
| C.H. Robinson Worldwide | $152.00 | −0.55% | $18.02B | 29.2 | 22.1 | 1.1 | +19.3% |
| J.B. Hunt | $235.58 | −0.25% | $22.18B | 33.5 | 27.4 | 1.7 | +19.4% |
| Uber | $70.24 | −0.85% | $144.20B | 15.6 | 18.1 | 2.6 | +12.2% |
| Hub Group | $32.38 | +2.20% | $1.92B | — | 39.4 | — | −1.0% |
| Landstar System | $168.64 | −0.99% | $5.78B | 44.1 | 24.8 | 1.2 | +18.2% |
| Schneider National | $32.19 | −0.43% | $5.66B | 50.5 | 24.0 | 1.0 | +10.4% |
| ArcBest | $131.12 | +1.06% | $2.90B | 188.0 | 15.8 | 0.7 | +15.9% |
| Knight-Swift Transportation | $66.70 | +0.12% | $10.84B | 257.9 | 20.1 | 1.4 | +12.6% |
| Median | 44.1 | 23.0 | 1.2 | +14.2% |