Brown Miller Wealth Management LLC Buys Shares of 27,480 QXO, Inc. $QXO

Brown Miller Wealth Management LLC purchased a new position in QXO, Inc. (NYSE:QXO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 27,480 shares of the company’s stock, valued at approximately $592,000.

A number of other institutional investors have also modified their holdings of the business. Farther Finance Advisors LLC acquired a new stake in QXO during the second quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in shares of QXO during the 1st quarter worth approximately $26,000. CWM LLC bought a new stake in shares of QXO in the 1st quarter worth approximately $27,000. Ridgewood Investments LLC bought a new stake in shares of QXO in the 1st quarter worth approximately $27,000. Finally, First Horizon Advisors Inc. boosted its position in QXO by 57.4% during the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock valued at $38,000 after purchasing an additional 1,017 shares during the period. Institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

QXO stock opened at $20.24 on Friday. The company has a 50-day simple moving average of $20.29 and a 200 day simple moving average of $18.28. The company has a market capitalization of $13.63 billion, a P/E ratio of -96.35, a PEG ratio of 2.71 and a beta of 2.25. The company has a quick ratio of 2.15, a current ratio of 3.00 and a debt-to-equity ratio of 0.38. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $24.69.

Wall Street Analysts Forecast Growth

QXO has been the topic of several analyst reports. Wells Fargo & Company started coverage on QXO in a research report on Tuesday, August 5th. They issued an “overweight” rating and a $30.00 target price on the stock. Benchmark raised shares of QXO to a “strong-buy” rating in a report on Monday, August 25th. Robert W. Baird started coverage on shares of QXO in a research note on Thursday, June 12th. They set an “outperform” rating and a $32.00 target price for the company. KeyCorp set a $28.00 price target on shares of QXO in a research note on Wednesday. Finally, Citigroup began coverage on QXO in a report on Wednesday, July 16th. They set a “buy” rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

About QXO

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.