Neville Rodie & Shaw Inc. Makes New $5.50 Million Investment in QXO, Inc. $QXO

Neville Rodie & Shaw Inc. purchased a new stake in shares of QXO, Inc. (NYSE:QXO) during the 3rd quarter, Holdings Channel reports. The fund purchased 470,310 shares of the company’s stock, valued at approximately $5,498,000.

Other hedge funds have also added to or reduced their stakes in the company. Red Door Wealth Management LLC grew its stake in shares of QXO by 3.9% during the first quarter. Red Door Wealth Management LLC now owns 15,982 shares of the company’s stock worth $310,000 after purchasing an additional 600 shares during the period. Alamea Verwaltungs GmbH lifted its stake in QXO by 4.5% in the fourth quarter. Alamea Verwaltungs GmbH now owns 13,960 shares of the company’s stock valued at $269,000 after buying an additional 602 shares during the period. NFSG Corp boosted its holdings in QXO by 39.6% during the first quarter. NFSG Corp now owns 2,198 shares of the company’s stock worth $43,000 after buying an additional 623 shares during the last quarter. Strs Ohio boosted its holdings in QXO by 1.1% during the first quarter. Strs Ohio now owns 69,393 shares of the company’s stock worth $1,348,000 after buying an additional 760 shares during the last quarter. Finally, First Bank & Trust grew its position in shares of QXO by 7.3% during the 2nd quarter. First Bank & Trust now owns 15,047 shares of the company’s stock worth $260,000 after buying an additional 1,026 shares during the period. Institutional investors own 58.68% of the company’s stock.

QXO Price Performance

Shares of NYSE QXO traded down $0.12 during mid-day trading on Monday, reaching $11.94. The company had a trading volume of 6,524,065 shares, compared to its average volume of 15,721,484. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. QXO, Inc. has a one year low of $11.14 and a one year high of $27.61. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of -13.26, a PEG ratio of 2.19 and a beta of 2.30. The business’s 50-day simple moving average is $13.36 and its 200 day simple moving average is $16.34.

QXO (NYSE:QXO) last issued its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. On average, research analysts predict that QXO, Inc. will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on QXO. Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 price objective on shares of QXO in a research report on Friday, July 10th. KeyCorp cut their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. DA Davidson started coverage on shares of QXO in a report on Monday, August 24th. They issued a “buy” rating and a $26.00 price target for the company. Citigroup lowered their price objective on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, Wells Fargo & Company set a $18.00 price objective on shares of QXO in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

QXO Profile

QXO, Inc is a building products distribution company focused on supplying contractors and other construction professionals. Its product portfolio includes roofing materials, siding, windows, waterproofing products and related exterior building supplies. The company serves residential and commercial construction and repair markets through branch locations, distribution centers and digital ordering channels.

QXO operates through Beacon, a major distributor of roofing and complementary building products in the United States and Canada.