QXO, Inc. $QXO Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in QXO, Inc. (NYSE:QXO) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,432,145 shares of the company’s stock after selling 44,911 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.36% of QXO worth $46,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new stake in shares of QXO during the second quarter worth about $25,000. American Capital Advisory LLC lifted its stake in shares of QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after buying an additional 841 shares during the period. Bogart Wealth LLC acquired a new stake in QXO during the third quarter worth approximately $25,000. Allworth Financial LP grew its stake in QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after acquiring an additional 1,149 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in QXO in the 2nd quarter valued at $28,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Performance

QXO stock opened at $23.46 on Thursday. The company has a market cap of $15.82 billion, a price-to-earnings ratio of -53.32, a price-to-earnings-growth ratio of 2.89 and a beta of 2.44. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $26.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. The stock’s 50-day moving average is $20.91 and its 200-day moving average is $20.30.

QXO (NYSE:QXO) last posted its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. The company’s revenue for the quarter was up 20726.7% on a year-over-year basis. Equities analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on QXO. KeyCorp set a $28.00 price objective on QXO in a report on Wednesday, October 1st. Oppenheimer increased their target price on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Truist Financial decreased their price target on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Loop Capital initiated coverage on shares of QXO in a research note on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective for the company. Finally, Benchmark reissued a “buy” rating on shares of QXO in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.