Consulta Ltd Has $192.90 Million Position in QXO, Inc. $QXO

Consulta Ltd lifted its position in shares of QXO, Inc. (NYSE:QXO) by 33.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000,000 shares of the company’s stock after acquiring an additional 2,500,000 shares during the period. QXO makes up approximately 9.5% of Consulta Ltd’s portfolio, making the stock its 4th largest position. Consulta Ltd’s holdings in QXO were worth $192,900,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages recently issued reports on QXO. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Citigroup dropped their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 15th. KeyCorp raised their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Benchmark restated a “buy” rating on shares of QXO in a report on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.14.

QXO Trading Down 2.5%

Shares of QXO stock opened at $16.58 on Thursday. The company’s fifty day simple moving average is $18.71 and its 200-day simple moving average is $20.99. The stock has a market capitalization of $12.03 billion, a PE ratio of -18.22, a P/E/G ratio of 4.36 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 current ratio of 3.33 and a quick ratio of 2.47.

QXO (NYSE:QXO) last issued 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 business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The company’s revenue was up 12716.3% on a year-over-year basis. As a group, equities analysts anticipate that QXO, Inc. will post 0.2 earnings per share 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.