First Manhattan CO. LLC. Purchases 251,100 Shares of QXO, Inc. $QXO

First Manhattan CO. LLC. boosted its position in QXO, Inc. (NYSE:QXO) by 18.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,578,055 shares of the company’s stock after buying an additional 251,100 shares during the period. First Manhattan CO. LLC.’s holdings in QXO were worth $30,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fred Alger Management LLC bought a new position in QXO in the third quarter worth approximately $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in QXO by 748.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after acquiring an additional 774,138 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after acquiring an additional 14,644,305 shares in the last quarter. JNBA Financial Advisors bought a new position in QXO in the fourth quarter worth approximately $992,000. Finally, Neuberger Berman Group LLC boosted its holdings in QXO by 36.0% in the third quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock worth $21,131,000 after acquiring an additional 293,351 shares in the last quarter. Institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

Shares of QXO stock opened at $16.58 on Thursday. The company has a market cap of $12.03 billion, a PE ratio of -18.22, a price-to-earnings-growth ratio of 4.36 and a beta of 2.30. QXO, Inc. has a 52 week low of $14.75 and a 52 week high of $27.61. The business has a 50 day moving average price of $18.71 and a 200-day moving average price of $20.99. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

QXO (NYSE:QXO) last issued 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 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 revenue was up 12716.3% compared to the same quarter last year. Equities analysts anticipate that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Oppenheimer increased their price target on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Citigroup lowered their price objective on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. KeyCorp increased their price objective on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, February 20th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.14.

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.