Taikang Asset Management Hong Kong Co Ltd Buys New Position in QXO, Inc. $QXO

Taikang Asset Management Hong Kong Co Ltd bought a new stake in shares of QXO, Inc. (NYSE:QXO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 590,759 shares of the company’s stock, valued at approximately $11,396,000. QXO makes up 1.1% of Taikang Asset Management Hong Kong Co Ltd’s holdings, making the stock its 21st biggest position. Taikang Asset Management Hong Kong Co Ltd owned 0.09% of QXO at the end of the most recent quarter.

Several other large investors have also bought and sold shares of QXO. Royal Bank of Canada boosted its stake in QXO by 67.5% during the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after buying an additional 48,248 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of QXO during the first quarter valued at $615,000. Millennium Management LLC lifted its holdings in shares of QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $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 holdings in shares of QXO by 13.3% during 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 valued at $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of QXO during the second quarter valued at $837,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Up 1.6%

QXO opened at $16.96 on Wednesday. QXO, Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $27.61. The business has a 50-day moving average of $18.76 and a 200-day moving average of $21.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The company has a market capitalization of $12.30 billion, a PE ratio of -18.64, a price-to-earnings-growth ratio of 4.28 and a beta of 2.30.

QXO (NYSE:QXO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. The firm’s revenue was up 12716.3% on a year-over-year basis. Equities research analysts forecast that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Royal Bank Of Canada reduced their target price on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Zacks Research raised QXO from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Oppenheimer upped their target price on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.14.

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.