Moody National Bank Trust Division Has $2.70 Million Stock Holdings in QXO, Inc. $QXO

Moody National Bank Trust Division raised its stake in shares of QXO, Inc. (NYSE:QXO) by 43.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 156,350 shares of the company’s stock after purchasing an additional 47,600 shares during the period. Moody National Bank Trust Division’s holdings in QXO were worth $2,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of QXO. TTRF Capital Ltd purchased a new stake in shares of QXO during the second quarter worth $2,391,000. Howard Financial Services LTD. purchased a new position in QXO in the second quarter valued at about $185,000. Janus Henderson Group PLC grew its stake in QXO by 3.8% in the first quarter. Janus Henderson Group PLC now owns 269,200 shares of the company’s stock valued at $5,224,000 after purchasing an additional 9,787 shares in the last quarter. Arkadios Wealth Advisors increased its position in QXO by 17.2% in the 1st quarter. Arkadios Wealth Advisors now owns 59,040 shares of the company’s stock worth $1,147,000 after purchasing an additional 8,644 shares during the last quarter. Finally, Opal Capital LLC increased its position in QXO by 2,185.2% in the 1st quarter. Opal Capital LLC now owns 255,846 shares of the company’s stock worth $4,969,000 after purchasing an additional 244,650 shares during the last quarter. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Performance

NYSE:QXO opened at $15.37 on Wednesday. QXO, Inc. has a 1 year low of $13.18 and a 1 year high of $27.61. The firm’s fifty day simple moving average is $15.70 and its 200 day simple moving average is $19.46. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $15.94 billion, a PE ratio of -16.88, a PEG ratio of 2.52 and a beta of 2.28.

QXO (NYSE:QXO) last released its 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). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s revenue for the quarter was up 12716.3% on a year-over-year basis. On average, sell-side analysts anticipate that QXO, Inc. will post 0.28 EPS for the current year.

Analyst Ratings Changes

QXO has been the subject of several research reports. Stephens reduced their price target on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a report on Friday, May 29th. Zacks Research raised shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Citigroup reduced their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Finally, KeyCorp decreased their target price on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, QXO has an average rating of “Moderate Buy” and an average target price of $29.71.

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.