Sepio Capital LP Makes New Investment in QXO, Inc. $QXO

Sepio Capital LP acquired a new position in QXO, Inc. (NYSE:QXO) during the third quarter, HoldingsChannel reports. The institutional investor acquired 77,900 shares of the company’s stock, valued at approximately $911,000.

Several other large investors have also bought and sold shares of QXO. Carnegie Investment Counsel raised its position in QXO by 38.6% in the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock worth $6,013,000 after buying an additional 86,265 shares during the last quarter. CI Investments Inc. increased its holdings in QXO by 4.1% in the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after acquiring an additional 102,838 shares in the last quarter. Gainplan LLC boosted its stake in shares of QXO by 390.2% in the third quarter. Gainplan LLC now owns 502,025 shares of the company’s stock worth $5,869,000 after acquiring an additional 399,605 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in QXO by 25.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock valued at $66,679,000 after buying an additional 1,173,274 shares in the last quarter. Finally, Hudson Value Partners LLC grew its stake in QXO by 87.6% during the second quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock valued at $3,732,000 after acquiring an additional 100,856 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Trading Down 4.7%

QXO stock traded down $0.52 during trading on Friday, reaching $10.50. 18,351,373 shares of the company were exchanged, compared to its average volume of 23,743,844. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The stock’s 50 day simple moving average is $12.22 and its two-hundred day simple moving average is $15.45. The company has a market capitalization of $10.89 billion, a P/E ratio of -11.67, a PEG ratio of 2.32 and a beta of 2.30. QXO, Inc. has a 52-week low of $10.03 and a 52-week high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. On average, equities research analysts expect that QXO, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, August 14th. Melius Research initiated coverage on shares of QXO in a research note on Tuesday, October 6th. They set a “buy” rating and a $17.00 price target for the company. Truist Financial reduced their target price on shares of QXO from $26.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Royal Bank Of Canada reduced their price target on QXO from $27.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 7th. Finally, Citigroup reduced their target price on QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.77.

QXO Company Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.