Vontobel Holding Ltd. Buys 2,200,153 Shares of QXO, Inc. $QXO

Vontobel Holding Ltd. purchased a new position in shares of QXO, Inc. (NYSE:QXO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,200,153 shares of the company’s stock, valued at approximately $25,720,000.

Several other institutional investors have also recently made changes to their positions in the company. Carnegie Investment Counsel increased its position in QXO by 38.6% during the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock valued at $6,013,000 after purchasing an additional 86,265 shares during the period. CI Investments Inc. lifted its position in shares of QXO by 4.1% in the 1st quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after purchasing an additional 102,838 shares during the period. Gainplan LLC lifted its position in shares of QXO by 390.2% in the 3rd quarter. Gainplan LLC now owns 502,025 shares of the company’s stock worth $5,869,000 after purchasing an additional 399,605 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of QXO by 25.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock worth $66,679,000 after purchasing an additional 1,173,274 shares during the period. Finally, Hudson Value Partners LLC boosted its stake in shares of QXO by 87.6% during the second quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock valued at $3,732,000 after purchasing an additional 100,856 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a report on Wednesday, August 26th. Truist Financial lowered their target price on QXO from $26.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, October 8th. KeyCorp dropped their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Royal Bank Of Canada cut their price target on QXO from $27.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.14.

QXO Stock Down 2.9%

Shares of QXO stock traded down $0.32 during mid-day trading on Friday, hitting $10.86. 20,706,680 shares of the stock traded hands, compared to its average volume of 24,547,196. The stock has a market cap of $11.27 billion, a P/E ratio of -12.07, a P/E/G ratio of 2.27 and a beta of 2.30. The stock’s fifty day moving average is $12.68 and its two-hundred day moving average is $15.75. QXO, Inc. has a 52-week low of $10.17 and a 52-week high of $27.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Equities analysts predict that QXO, Inc. will post 0.25 EPS for the current year.

QXO Company Profile

QXO, Inc is a building products distribution company focused on supplying contractors and other construction professionals. Its product portfolio includes roofing materials, siding, windows, waterproofing products and related exterior building supplies. The company serves residential and commercial construction and repair markets through branch locations, distribution centers and digital ordering channels.

QXO operates through Beacon, a major distributor of roofing and complementary building products in the United States and Canada.