QXO, Inc. $QXO Shares Purchased by State of Wyoming

State of Wyoming grew its position in shares of QXO, Inc. (NASDAQ:QXO) by 42.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 26,135 shares of the company’s stock after acquiring an additional 7,782 shares during the period. State of Wyoming’s holdings in QXO were worth $354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in QXO during the first quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in QXO during the first quarter worth about $27,000. CWM LLC acquired a new stake in QXO during the first quarter worth about $27,000. First Horizon Advisors Inc. increased its stake in QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock worth $38,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Signaturefd LLC increased its stake in QXO by 533.6% during the first quarter. Signaturefd LLC now owns 3,168 shares of the company’s stock worth $43,000 after acquiring an additional 2,668 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Price Performance

Shares of NASDAQ QXO opened at $20.17 on Tuesday. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $24.69. The business has a 50-day moving average of $20.93 and a 200-day moving average of $17.05. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of -2.21, a PEG ratio of 4.09 and a beta of 2.35.

Analyst Ratings Changes

QXO has been the subject of several research analyst reports. Citigroup initiated coverage on QXO in a research note on Wednesday, July 16th. They set a “buy” rating and a $33.00 price target for the company. Robert W. Baird initiated coverage on QXO in a research note on Thursday, June 12th. They set an “outperform” rating and a $32.00 price target for the company. Royal Bank Of Canada initiated coverage on QXO in a research note on Monday, July 21st. They set an “outperform” rating and a $33.00 price target for the company. Wells Fargo & Company began coverage on QXO in a research note on Tuesday, August 5th. They set an “overweight” rating and a $30.00 price target for the company. Finally, Baird R W raised QXO to a “strong-buy” rating in a research report on Thursday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $34.22.

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.