Vanguard Group Inc. Decreases Holdings in QXO, Inc. $QXO

Vanguard Group Inc. trimmed its stake in shares of QXO, Inc. (NYSE:QXO) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 54,596,714 shares of the company’s stock after selling 727,029 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of QXO worth $1,053,171,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Impax Asset Management Group plc acquired a new stake in shares of QXO in the fourth quarter valued at about $24,243,000. Concurrent Investment Advisors LLC raised its position in shares of QXO by 143.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 24,802 shares of the company’s stock valued at $478,000 after buying an additional 14,628 shares during the last quarter. Arizona State Retirement System raised its position in shares of QXO by 6.8% in the fourth quarter. Arizona State Retirement System now owns 169,731 shares of the company’s stock valued at $3,274,000 after buying an additional 10,818 shares during the last quarter. Diversified Enterprises LLC acquired a new stake in shares of QXO in the fourth quarter valued at about $221,000. Finally, WPG Advisers LLC raised its position in shares of QXO by 238.4% in the fourth quarter. WPG Advisers LLC now owns 6,153 shares of the company’s stock valued at $119,000 after buying an additional 4,335 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QXO has been the subject of a number of recent research reports. BNP Paribas Exane initiated coverage on shares of QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price for the company. KeyCorp increased their target price on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, February 20th. Royal Bank Of Canada reduced their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Finally, Citigroup reduced their target price on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and an average price target of $32.53.

QXO Price Performance

QXO stock opened at $19.83 on Friday. QXO, Inc. has a 12-month low of $13.09 and a 12-month high of $27.61. The stock has a market cap of $14.38 billion, a P/E ratio of -33.62, a PEG ratio of 3.14 and a beta of 2.40. The company has a 50-day moving average price of $21.39 and a 200 day moving average price of $21.14. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO) last released its quarterly earnings data on Friday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The company’s revenue was up 14725.0% compared to the same quarter last year. Sell-side analysts anticipate that QXO, Inc. will post 0.32 earnings per share for the current year.

QXO 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.