272,029 Shares in QXO, Inc. $QXO Bought by NFJ Investment Group LLC

NFJ Investment Group LLC purchased a new position in shares of QXO, Inc. (NYSE:QXO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 272,029 shares of the company’s stock, valued at approximately $5,247,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC purchased a new stake in QXO during the 3rd quarter worth $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in QXO by 748.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after buying an additional 774,138 shares during the period. Baillie Gifford & Co. increased its stake in QXO by 16,117.6% during the 4th 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. JNBA Financial Advisors purchased a new stake in QXO during the 4th quarter worth $992,000. Finally, Neuberger Berman Group LLC increased its stake in QXO by 36.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock worth $21,131,000 after buying an additional 293,351 shares during the period. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Price Performance

QXO opened at $16.60 on Friday. The company has a 50-day moving average of $18.85 and a 200-day moving average of $20.98. The company has a market capitalization of $12.04 billion, a P/E ratio of -18.25, a PEG ratio of 4.26 and a beta of 2.30. QXO, Inc. has a 1-year low of $14.75 and a 1-year high of $27.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33.

QXO (NYSE:QXO) last released its 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 positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s quarterly revenue was up 12716.3% on a year-over-year basis. Equities analysts expect that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QXO shares. Robert W. Baird dropped their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Citigroup dropped their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 15th. KeyCorp boosted their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Finally, Oppenheimer boosted their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.14.

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.