First Eagle Investment Management LLC Purchases 59,055 Shares of QXO, Inc. $QXO

First Eagle Investment Management LLC boosted its holdings in QXO, Inc. (NYSE:QXO) by 42.0% in the third quarter, Holdings Channel reports. The institutional investor owned 199,500 shares of the company’s stock after buying an additional 59,055 shares during the period. First Eagle Investment Management LLC’s holdings in QXO were worth $3,802,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after acquiring an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in QXO during the 2nd quarter worth about $28,000. Bogart Wealth LLC bought a new stake in shares of QXO in the 3rd quarter valued at about $25,000. Russell Investments Group Ltd. acquired a new stake in shares of QXO in the second quarter valued at about $30,000. Finally, GAMMA Investing LLC acquired a new stake in shares of QXO in the third quarter valued at about $31,000. 58.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QXO has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, February 20th. Royal Bank Of Canada set a $30.00 price target on shares of QXO in a research report on Friday, January 9th. Oppenheimer increased their price objective on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Citigroup dropped their price target on QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

QXO Trading Up 5.9%

Shares of QXO stock opened at $23.25 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.58. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of -39.41, a PEG ratio of 2.99 and a beta of 2.51. The company has a 50-day simple moving average of $23.67 and a two-hundred day simple moving average of $20.98. QXO, Inc. has a 52-week low of $11.97 and a 52-week high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. The company’s quarterly revenue was up 14725.0% compared to the same quarter last year. Research analysts anticipate that QXO, Inc. will post -0.13 EPS for the current fiscal year.

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.