Mitsubishi UFJ Trust & Banking Corp Invests $17.69 Million in QXO, Inc. $QXO

Mitsubishi UFJ Trust & Banking Corp bought a new stake in QXO, Inc. (NYSE:QXO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 916,907 shares of the company’s stock, valued at approximately $17,687,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank lifted its position in QXO by 21.1% in the fourth quarter. Comerica Bank now owns 29,596 shares of the company’s stock worth $571,000 after purchasing an additional 5,161 shares during the period. Aprio Wealth Management LLC increased its holdings in QXO by 63.5% in the 4th quarter. Aprio Wealth Management LLC now owns 18,487 shares of the company’s stock valued at $357,000 after buying an additional 7,177 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of QXO by 21.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,292,688 shares of the company’s stock valued at $24,936,000 after buying an additional 227,946 shares in the last quarter. Carmel Capital Partners LLC lifted its holdings in shares of QXO by 164.7% during the 4th quarter. Carmel Capital Partners LLC now owns 122,725 shares of the company’s stock worth $2,367,000 after acquiring an additional 76,365 shares during the period. Finally, UBS Group AG lifted its holdings in shares of QXO by 14.8% during the 4th quarter. UBS Group AG now owns 4,978,172 shares of the company’s stock worth $96,029,000 after acquiring an additional 640,168 shares during the period. 58.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QXO. Royal Bank Of Canada lowered their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Wall Street Zen cut shares of QXO from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. BNP Paribas Exane began coverage on QXO in a research note on Monday, March 16th. They issued an “outperform” rating and a $30.00 price objective on the stock. Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, February 20th. Finally, KeyCorp raised their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.53.

QXO Stock Up 2.6%

QXO opened at $20.12 on Friday. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of -34.10, a PEG ratio of 3.06 and a beta of 2.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58. The firm’s 50-day simple moving average is $21.39 and its 200-day simple moving average is $21.14. QXO, Inc. has a twelve month low of $13.09 and a twelve month high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results 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 negative net margin of 4.08% and a positive return on equity of 3.45%. The business’s revenue was up 14725.0% compared to the same quarter last year. Equities research analysts anticipate that QXO, Inc. will post 0.32 EPS for the current fiscal year.

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. 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.