Vanguard Group Inc. Grows Position in QXO, Inc. $QXO

Vanguard Group Inc. increased its holdings in shares of QXO, Inc. (NYSE:QXO) by 17.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,323,743 shares of the company’s stock after purchasing an additional 8,131,331 shares during the quarter. Vanguard Group Inc. owned 8.21% of QXO worth $1,054,471,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of QXO. Royal Bank of Canada boosted its stake in QXO by 67.5% during the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock worth $1,620,000 after buying an additional 48,248 shares during the period. AQR Capital Management LLC acquired a new position in shares of QXO in the 1st quarter worth approximately $615,000. Millennium Management LLC boosted its position in shares of QXO by 6.6% during the 1st quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after purchasing an additional 20,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of QXO by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after purchasing an additional 81,758 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in QXO in the 2nd quarter valued at approximately $276,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on QXO shares. Royal Bank Of Canada set a $30.00 price target on QXO in a research note on Friday, January 9th. William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Benchmark reaffirmed a “buy” rating on shares of QXO in a research report on Friday. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Finally, Citigroup reduced their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

QXO Trading Down 2.6%

QXO opened at $25.54 on Friday. The business has a fifty day moving average price of $23.32 and a 200 day moving average price of $20.77. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $27.61. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of -58.04, a PEG ratio of 3.19 and a beta of 2.55.

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.