State of New Jersey Common Pension Fund D Acquires 22,164 Shares of QXO, Inc. $QXO

State of New Jersey Common Pension Fund D grew its stake in shares of QXO, Inc. (NYSE:QXO) by 13.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,311 shares of the company’s stock after buying an additional 22,164 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in QXO were worth $3,551,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. American Capital Advisory LLC boosted its holdings in QXO by 258.0% during the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after acquiring an additional 841 shares during the period. Bogart Wealth LLC bought a new stake in QXO in the third quarter valued at approximately $25,000. Allworth Financial LP lifted its position in QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of QXO during the second quarter valued at approximately $28,000. Finally, Russell Investments Group Ltd. bought a new position in shares of QXO in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada set a $30.00 price target on shares of QXO in a report on Friday, January 9th. Loop Capital initiated coverage on shares of QXO in a research note on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective for the company. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, January 16th. William Blair reaffirmed an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

QXO Stock Down 1.6%

QXO stock opened at $26.21 on Friday. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $27.61. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of -59.57, a price-to-earnings-growth ratio of 3.33 and a beta of 2.55. The business’s 50 day moving average price is $23.24 and its two-hundred day moving average price is $20.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06.

QXO Company 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.