Braun Stacey Associates Inc. Boosts Holdings in QXO, Inc. $QXO

Braun Stacey Associates Inc. grew its position in QXO, Inc. (NYSE:QXO) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,466,333 shares of the company’s stock after acquiring an additional 130,003 shares during the quarter. Braun Stacey Associates Inc. owned about 0.14% of QXO worth $25,338,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in QXO. Royal Bank of Canada grew its holdings in QXO by 67.5% during the 1st quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after purchasing an additional 48,248 shares during the last quarter. AQR Capital Management LLC purchased a new stake in QXO in the 1st quarter worth about $615,000. Millennium Management LLC lifted its stake in QXO by 6.6% in the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock worth $4,361,000 after purchasing an additional 20,067 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in QXO by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of QXO during the second quarter valued at approximately $837,000. Institutional investors own 58.68% of the company’s stock.

QXO Price Performance

Shares of QXO stock opened at $13.58 on Friday. QXO, Inc. has a twelve month low of $13.15 and a twelve month high of $27.61. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $14.91 and a two-hundred day simple moving average of $18.38. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of -15.09, a P/E/G ratio of 2.39 and a beta of 2.28.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. On average, analysts predict that QXO, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a report on Wednesday. DA Davidson began coverage on QXO in a report on Monday. They set a “buy” rating and a $26.00 price objective for the company. Robert W. Baird cut their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. KeyCorp reduced their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Finally, Zacks Research upgraded QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.