QXO, Inc. $QXO Shares Acquired by Fishman Jay A Ltd. MI

Fishman Jay A Ltd. MI lifted its holdings in QXO, Inc. (NYSE:QXO) by 41.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,216,305 shares of the company’s stock after purchasing an additional 358,465 shares during the quarter. QXO comprises 2.1% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 14th biggest holding. Fishman Jay A Ltd. MI’s holdings in QXO were worth $23,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fred Alger Management LLC acquired a new position in QXO during the third quarter worth about $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of QXO by 748.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock valued at $16,928,000 after acquiring an additional 774,138 shares during the period. Baillie Gifford & Co. boosted its stake 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 worth $284,241,000 after acquiring an additional 14,644,305 shares in the last quarter. JNBA Financial Advisors acquired a new stake in shares of QXO in the 4th quarter worth approximately $992,000. Finally, Impax Asset Management Group plc acquired a new stake in shares of QXO in the 4th quarter worth approximately $24,243,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analyst Ratings Changes

QXO has been the subject of several research reports. Oppenheimer lifted their price objective on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. BNP Paribas Exane started coverage on QXO in a research report on Monday, March 16th. They issued an “outperform” rating and a $30.00 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Citigroup decreased their price objective on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Finally, KeyCorp lowered their price objective on shares of QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Fifteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.86.

QXO Price Performance

QXO stock opened at $15.26 on Wednesday. The stock has a market capitalization of $11.07 billion, a P/E ratio of -16.77, a P/E/G ratio of 4.05 and a beta of 2.23. QXO, Inc. has a 12-month low of $14.75 and a 12-month high of $27.61. 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 firm’s 50-day moving average is $17.21 and its two-hundred day moving average is $20.62.

QXO (NYSE:QXO) last posted its quarterly earnings data 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 negative net margin of 6.02% and a positive return on equity of 1.91%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. QXO’s revenue was up 12716.3% compared to the same quarter last year. Equities analysts predict that QXO, Inc. will post 0.2 earnings per share for the current year.

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.