Swedbank AB Makes New $9.66 Million Investment in QXO, Inc. $QXO

Swedbank AB purchased a new position in shares of QXO, Inc. (NYSE:QXO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 501,000 shares of the company’s stock, valued at approximately $9,664,000.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares in the last quarter. Finepoint Capital LP increased its stake in shares of QXO by 5.4% in the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after buying an additional 1,142,747 shares during the period. Baillie Gifford & Co. increased its stake in shares of 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 buying an additional 14,644,305 shares during the period. Schf GPE LLC increased its stake in shares of QXO by 204.3% in the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares during the period. Finally, MTCO Ltd. purchased a new position in shares of QXO in the third quarter worth $208,534,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on QXO. KeyCorp lifted 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. Wall Street Zen raised shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, February 20th. Zacks Research downgraded shares of QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, BNP Paribas Exane began coverage on shares of QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

QXO Stock Performance

NYSE:QXO opened at $17.21 on Wednesday. The stock has a market cap of $12.48 billion, a P/E ratio of -18.91, a price-to-earnings-growth ratio of 4.27 and a beta of 2.40. The firm’s fifty day simple moving average is $19.71 and its 200 day simple moving average is $21.09. QXO, Inc. has a twelve month low of $15.50 and a twelve month high of $27.61. 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 released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share 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 the consensus estimate of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company’s quarterly revenue was up 12716.3% compared to the same quarter last year. As a group, research analysts predict that QXO, Inc. will post 0.2 EPS for the current 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.