TD Asset Management Inc Increases Stock Holdings in QXO, Inc. $QXO

TD Asset Management Inc lifted its stake in shares of QXO, Inc. (NYSE:QXO) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 941,327 shares of the company’s stock after buying an additional 148,375 shares during the quarter. TD Asset Management Inc owned 0.14% of QXO worth $18,158,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of QXO. Baillie Gifford & Co. raised its holdings in shares of QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the period. MTCO Ltd. purchased a new stake in shares of QXO during the 3rd quarter valued at about $208,534,000. Fred Alger Management LLC purchased a new stake in shares of QXO during the 3rd quarter valued at about $173,053,000. Schf GPE LLC raised its holdings in shares of QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after buying an additional 8,943,089 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of QXO by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after buying an additional 8,131,331 shares during the period. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Price Performance

QXO stock opened at $15.81 on Monday. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. QXO, Inc. has a 52-week low of $15.45 and a 52-week high of $27.61. The stock’s 50 day moving average is $19.16 and its two-hundred day moving average is $21.03. The company has a market capitalization of $11.47 billion, a PE ratio of -17.37, a P/E/G ratio of 4.04 and a beta of 2.30.

QXO (NYSE:QXO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. The business’s revenue was up 12716.3% on a year-over-year basis. Analysts predict that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

QXO has been the topic of several analyst reports. Benchmark reiterated a “buy” rating on shares of QXO in a report on Friday, February 20th. BNP Paribas Exane initiated coverage on QXO in a report on Monday, March 16th. They set an “outperform” rating and a $30.00 price objective on the stock. KeyCorp lifted their price objective on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Robert W. Baird dropped their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Citigroup dropped their price objective on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Fifteen research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.14.

About QXO

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.