Blue Investment Opportunities LLC Project Breeze Series 1 Takes Position in QXO, Inc. $QXO

Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new stake in QXO, Inc. (NASDAQ:QXO) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,725,390 shares of the company’s stock, valued at approximately $118,142,000. QXO makes up approximately 100.0% of Blue Investment Opportunities LLC Project Breeze Series 1’s portfolio, making the stock its largest holding. Blue Investment Opportunities LLC Project Breeze Series 1 owned 1.95% of QXO at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of QXO by 146.1% in the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock valued at $334,539,000 after acquiring an additional 14,667,571 shares in the last quarter. Affinity Partners GP LP acquired a new position in QXO during the fourth quarter worth approximately $260,941,000. Massachusetts Financial Services Co. MA raised its stake in QXO by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company’s stock valued at $25,535,000 after buying an additional 8,322 shares during the period. Northern Trust Corp raised its stake in QXO by 13.4% in the first quarter. Northern Trust Corp now owns 829,496 shares of the company’s stock valued at $11,231,000 after buying an additional 97,886 shares during the period. Finally, Amundi lifted its position in shares of QXO by 26.4% in the first quarter. Amundi now owns 715,087 shares of the company’s stock valued at $9,861,000 after buying an additional 149,504 shares during the last quarter. Institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup assumed coverage on QXO in a research report on Wednesday, July 16th. They issued a “buy” rating and a $33.00 price objective for the company. Morgan Stanley initiated coverage on shares of QXO in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price objective for the company. William Blair initiated coverage on shares of QXO in a research report on Wednesday, June 18th. They set an “outperform” rating for the company. Royal Bank Of Canada initiated coverage on shares of QXO in a research report on Monday, July 21st. They set an “outperform” rating and a $33.00 price objective for the company. Finally, Wolfe Research initiated coverage on shares of QXO in a research report on Friday, June 6th. They set an “outperform” rating and a $44.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $33.73.

QXO Trading Up 6.7%

Shares of QXO opened at $22.03 on Monday. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $24.69. The firm’s 50 day moving average is $20.86 and its 200-day moving average is $17.27. The stock has a market capitalization of $14.84 billion, a PE ratio of -2.42, a P/E/G ratio of 4.09 and a beta of 2.35.

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.