Simon Quick Advisors LLC Increases Position in QXO, Inc. $QXO

Simon Quick Advisors LLC lifted its holdings in QXO, Inc. (NYSE:QXO) by 17.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,408 shares of the company’s stock after purchasing an additional 4,063 shares during the period. Simon Quick Advisors LLC’s holdings in QXO were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of QXO. Vanguard Group Inc. increased its stake in shares of QXO by 146.1% in the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock valued at $334,539,000 after purchasing an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new position in shares of QXO in the 1st quarter valued at about $118,142,000. Catawba River Capital increased its stake in shares of QXO by 127.8% in the 2nd quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock valued at $24,041,000 after purchasing an additional 626,067 shares in the last quarter. TD Asset Management Inc increased its stake in shares of QXO by 189.1% in the 2nd quarter. TD Asset Management Inc now owns 891,482 shares of the company’s stock valued at $19,203,000 after purchasing an additional 583,092 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of QXO in the 1st quarter valued at about $6,534,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Price Performance

QXO stock opened at $17.67 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.00 and a quick ratio of 2.15. The business has a 50 day simple moving average of $19.81 and a 200-day simple moving average of $19.03. The firm has a market capitalization of $11.90 billion, a PE ratio of -84.12, a price-to-earnings-growth ratio of 2.58 and a beta of 2.25. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $24.69.

QXO (NYSE:QXO) last posted its quarterly earnings results on Thursday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. QXO had a positive return on equity of 2.15% and a negative net margin of 1.09%. Equities research analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QXO has been the subject of several research reports. Zacks Research lowered QXO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Wells Fargo & Company initiated coverage on QXO in a research note on Tuesday, August 5th. They set an “overweight” rating and a $30.00 price objective for the company. Vertical Research initiated coverage on QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 price objective for the company. KeyCorp set a $28.00 price objective on QXO in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.85.

QXO Profile

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.