QXO, Inc. $QXO Stake Boosted by Investment House LLC

Investment House LLC increased its position in shares of QXO, Inc. (NYSE:QXO) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,935 shares of the company’s stock after purchasing an additional 112,556 shares during the quarter. Investment House LLC owned 0.12% of QXO worth $15,431,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in QXO. Baillie Gifford & Co. lifted its stake in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the last quarter. MTCO Ltd. bought a new stake in QXO in the third quarter valued at $208,534,000. Fred Alger Management LLC bought a new stake in shares of QXO during the third quarter valued at about $173,053,000. Schf GPE LLC raised its stake in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Robert W. Baird lowered their target price on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Oppenheimer lifted their target price on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. BNP Paribas Exane assumed coverage on QXO in a report on Monday, March 16th. They set an “outperform” rating and a $30.00 target price on the stock. Royal Bank Of Canada lowered their target price on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Finally, Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

QXO Trading Down 4.7%

Shares of QXO opened at $15.91 on Wednesday. The business’s 50-day moving average price is $20.10 and its 200 day moving average price is $21.10. The stock has a market capitalization of $11.54 billion, a P/E ratio of -17.48, a P/E/G ratio of 4.28 and a beta of 2.40. QXO, Inc. has a 1-year low of $15.50 and a 1-year high of $27.61. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s quarterly revenue was up 12716.3% on a year-over-year basis. Analysts expect that QXO, Inc. will post 0.2 earnings per share for the current year.

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. 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.