70,527 QXO, Inc. $QXO Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in QXO, Inc. (NYSE:QXO) by 12,351.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,098 shares of the company’s stock after buying an additional 70,527 shares during the quarter. Nisa Investment Advisors LLC’s holdings in QXO were worth $831,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Finepoint Capital LP raised its position in QXO by 30.7% during the second quarter. Finepoint Capital LP now owns 18,113,850 shares of the company’s stock worth $313,007,000 after acquiring an additional 4,255,435 shares in the last quarter. Spyglass Capital Management LLC acquired a new stake in QXO in the second quarter valued at $62,961,000. Bank of New York Mellon Corp acquired a new stake in QXO in the second quarter valued at $44,919,000. Vontobel Holding Ltd. bought a new position in shares of QXO in the 3rd quarter valued at about $25,720,000. Finally, Fort Washington Investment Advisors Inc. OH increased its position in QXO by 25.9% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock worth $66,679,000 after buying an additional 1,173,274 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Benchmark restated a “buy” rating on shares of QXO in a research note on Friday, August 14th. Royal Bank Of Canada reduced their target price on QXO from $27.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Wells Fargo & Company reduced their target price on QXO from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. DA Davidson set a $20.00 target price on QXO in a report on Friday, October 9th. Finally, Melius Research assumed coverage on QXO in a research note on Tuesday, October 6th. They issued a “buy” rating and a $17.00 price target on the stock. One research analyst has 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.77.

QXO Stock Performance

NYSE QXO opened at $10.62 on Wednesday. The stock has a market cap of $11.02 billion, a PE ratio of -11.81 and a beta of 2.30. The firm has a 50-day moving average of $12.09 and a 200-day moving average of $17.55. QXO, Inc. has a 52-week low of $10.03 and a 52-week high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. As a group, analysts predict that QXO, Inc. will post 0.24 EPS for the current fiscal year.

About QXO

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.