Hohimer Wealth Management LLC Makes New $2.65 Million Investment in QXO, Inc. $QXO

Hohimer Wealth Management LLC bought a new stake in QXO, Inc. (NYSE:QXO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 138,815 shares of the company’s stock, valued at approximately $2,646,000.

Several other large investors have also modified their holdings of QXO. SG Americas Securities LLC increased its holdings in QXO by 5.0% in the third quarter. SG Americas Securities LLC now owns 17,499 shares of the company’s stock valued at $334,000 after buying an additional 832 shares during the last quarter. American Capital Advisory LLC increased its holdings in shares of QXO by 258.0% in the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after acquiring an additional 841 shares during the last quarter. Future Financial Wealth Managment LLC raised its position in shares of QXO by 14.3% during the 3rd quarter. Future Financial Wealth Managment LLC now owns 8,000 shares of the company’s stock valued at $152,000 after acquiring an additional 1,000 shares in the last quarter. AlphaQuest LLC raised its position in shares of QXO by 22.9% during the 2nd quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock valued at $127,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in QXO by 1,740.9% during the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after purchasing an additional 1,149 shares during the last quarter. Institutional investors own 58.68% of the company’s stock.

QXO Trading Down 1.2%

QXO stock opened at $23.91 on Friday. QXO, Inc. has a 52-week low of $11.97 and a 52-week high of $27.61. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $16.13 billion, a price-to-earnings ratio of -40.53, a PEG ratio of 3.27 and a beta of 2.55. The firm has a 50-day moving average price of $23.57 and a two-hundred day moving average price of $20.90.

QXO (NYSE:QXO) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.59%. The business’s quarterly revenue was up 14725.0% compared to the same quarter last year. Sell-side analysts expect that QXO, Inc. will post -0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QXO has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Oppenheimer lifted their price target on shares of QXO from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Citigroup dropped their price objective on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Loop Capital initiated coverage on shares of QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 target price on the stock. Finally, William Blair restated an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.