Public Employees Retirement System of Ohio Invests $4.73 Million in QXO, Inc. $QXO

Public Employees Retirement System of Ohio purchased a new position in QXO, Inc. (NYSE:QXO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 273,709 shares of the company’s stock, valued at approximately $4,730,000.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in QXO by 67.5% during the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock worth $1,620,000 after acquiring an additional 48,248 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of QXO during the first quarter valued at approximately $615,000. Millennium Management LLC increased its stake in shares of QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after purchasing an additional 20,067 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of QXO by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of QXO during the second quarter valued at approximately $837,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Up 2.5%

Shares of QXO stock opened at $13.21 on Thursday. The company has a 50-day simple moving average of $14.70 and a two-hundred day simple moving average of $18.09. The stock has a market capitalization of $13.70 billion, a PE ratio of -14.67, a price-to-earnings-growth ratio of 2.33 and a beta of 2.32. QXO, Inc. has a 52-week low of $12.80 and a 52-week high of $27.61. 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 (NYSE:QXO) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. On average, analysts anticipate that QXO, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

QXO has been the topic of a number of analyst reports. Stephens dropped their price target on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Citigroup reduced their price objective on QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $27.00 price objective on shares of QXO in a research note on Friday, July 10th. KeyCorp dropped their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Finally, Wells Fargo & Company set a $18.00 target price on QXO in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.