Wellington Shields Capital Management LLC Has $10.28 Million Holdings in QXO, Inc. $QXO

Wellington Shields Capital Management LLC grew its stake in shares of QXO, Inc. (NYSE:QXO) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 532,758 shares of the company’s stock after acquiring an additional 119,328 shares during the period. QXO accounts for 1.5% of Wellington Shields Capital Management LLC’s holdings, making the stock its 17th largest position. Wellington Shields Capital Management LLC owned about 0.08% of QXO worth $10,277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of 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 last quarter. AQR Capital Management LLC bought a new stake in shares of QXO during the first quarter worth $615,000. Millennium Management LLC grew its stake in shares of QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after buying an additional 20,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of QXO by 13.3% during the first 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 buying an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of QXO during the second quarter worth $837,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Zacks Research cut shares of QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. BNP Paribas Exane assumed coverage on shares of QXO in a research note on Monday, March 16th. They set an “outperform” rating and a $30.00 target price on the stock. KeyCorp boosted their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Stephens decreased their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Finally, Oppenheimer boosted their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Sixteen investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

QXO Trading Up 0.2%

NYSE:QXO opened at $16.71 on Tuesday. The firm has a 50-day moving average price of $19.77 and a two-hundred day moving average price of $21.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. QXO, Inc. has a 52 week low of $15.50 and a 52 week high of $27.61. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of -18.36, a price-to-earnings-growth ratio of 4.27 and a beta of 2.40.

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