Headlands Technologies LLC Purchases New Shares in QXO, Inc. $QXO

Headlands Technologies LLC acquired a new stake in QXO, Inc. (NYSE:QXO) in the second quarter, Holdings Channel reports. The institutional investor acquired 40,985 shares of the company’s stock, valued at approximately $708,000.

A number of other large investors have also modified their holdings of the company. Schf GPE LLC boosted its stake in shares of QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after acquiring an additional 8,943,089 shares in the last quarter. Norges Bank acquired a new position in QXO in the 4th quarter worth about $140,421,000. Fred Alger Management LLC boosted its position in QXO by 75.4% during the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after purchasing an additional 6,844,574 shares in the last quarter. Sound Shore Management Inc. CT acquired a new stake in QXO in the fourth quarter valued at approximately $77,199,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of QXO by 110.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,513,588 shares of the company’s stock valued at $125,648,000 after buying an additional 3,417,670 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. KeyCorp dropped their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Wells Fargo & Company set a $18.00 target price on shares of QXO in a research note on Tuesday, July 28th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $27.00 price target on shares of QXO in a research note on Friday, July 10th. Finally, DA Davidson started coverage on QXO in a report on Monday, August 24th. They set a “buy” rating and a $26.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued 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 a consensus target price of $28.00.

QXO Trading Down 3.2%

Shares of QXO stock opened at $12.86 on Wednesday. QXO, Inc. has a twelve month low of $12.82 and a twelve month high of $27.61. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of -14.29, a PEG ratio of 2.29 and a beta of 2.32. The company’s 50-day moving average price is $14.78 and its 200-day moving average price is $18.18. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66.

QXO (NYSE:QXO) last issued its earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. As a group, equities analysts predict that QXO, Inc. will post 0.29 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.