TD Asset Management Inc Sells 98,530 Shares of QXO, Inc. $QXO

TD Asset Management Inc lowered its stake in QXO, Inc. (NYSE:QXO) by 11.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 792,952 shares of the company’s stock after selling 98,530 shares during the period. TD Asset Management Inc’s holdings in QXO were worth $15,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. American Capital Advisory LLC increased its position in shares of QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares in the last quarter. Bogart Wealth LLC acquired a new position in QXO in the 3rd quarter worth $25,000. Allworth Financial LP increased its holdings in QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after purchasing an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of QXO in the 2nd quarter valued at about $28,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of QXO in the second quarter valued at about $30,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Performance

NYSE QXO opened at $23.88 on Monday. The firm has a market capitalization of $16.10 billion, a P/E ratio of -40.47, a price-to-earnings-growth ratio of 3.24 and a beta of 2.51. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average price is $23.61 and its two-hundred day moving average price is $20.94. QXO, Inc. has a 1 year low of $11.97 and a 1 year high of $27.61.

QXO (NYSE:QXO) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a positive return on equity of 3.59% and a negative net margin of 4.08%.The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.19 billion. The business’s revenue was up 14725.0% on a year-over-year basis. As a group, research analysts anticipate that QXO, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Loop Capital initiated coverage on QXO in a research report on Thursday, December 11th. They issued a “buy” rating and a $31.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. William Blair reaffirmed an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Wall Street Zen lowered shares of QXO from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a research note on Friday, January 9th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.43.

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.