Rhumbline Advisers Sells 1,555 Shares of QXO, Inc. $QXO

Rhumbline Advisers lowered its position in QXO, Inc. (NASDAQ:QXO) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,445 shares of the company’s stock after selling 1,555 shares during the period. Rhumbline Advisers’ holdings in QXO were worth $263,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC bought a new stake in shares of QXO in the 1st quarter valued at $26,000. CWM LLC bought a new stake in shares of QXO in the 1st quarter valued at $27,000. Ridgewood Investments LLC bought a new stake in shares of QXO in the 1st quarter valued at $27,000. First Horizon Advisors Inc. increased its position in shares of QXO by 57.4% in the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock valued at $38,000 after buying an additional 1,017 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of QXO by 533.6% in the 1st quarter. Signaturefd LLC now owns 3,168 shares of the company’s stock valued at $43,000 after buying an additional 2,668 shares in the last quarter. Institutional investors own 58.68% of the company’s stock.

QXO Price Performance

QXO stock opened at $18.90 on Friday. The firm has a 50-day moving average of $20.62 and a 200-day moving average of $17.98. QXO, Inc. has a one year low of $11.85 and a one year high of $24.69. The company has a market cap of $12.73 billion, a price-to-earnings ratio of -2.07, a P/E/G ratio of 4.09 and a beta of 2.35.

Wall Street Analysts Forecast Growth

QXO has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of QXO in a research note on Friday, June 6th. They issued an “outperform” rating and a $44.00 target price for the company. Raymond James Financial initiated coverage on shares of QXO in a research note on Friday, September 5th. They issued an “outperform” rating and a $28.00 target price for the company. Truist Financial initiated coverage on shares of QXO in a research note on Tuesday, July 1st. They issued a “buy” rating and a $30.00 target price for the company. Morgan Stanley initiated coverage on shares of QXO in a research note on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Oppenheimer initiated coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an “outperform” rating and a $27.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, QXO presently has a consensus rating of “Buy” and an average target price of $33.73.

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.