Maple Capital Management Inc. Purchases New Stake in QXO, Inc. $QXO

Maple Capital Management Inc. bought a new position in shares of QXO, Inc. (NYSE:QXO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,445 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QXO. Vanguard Group Inc. raised its position in shares of QXO by 146.1% during the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock worth $334,539,000 after purchasing an additional 14,667,571 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new stake in QXO in the first quarter worth $118,142,000. Bank of New York Mellon Corp lifted its stake in QXO by 617.7% in the second quarter. Bank of New York Mellon Corp now owns 3,277,975 shares of the company’s stock valued at $70,608,000 after buying an additional 2,821,241 shares during the last quarter. Catawba River Capital boosted its holdings in shares of QXO by 127.8% during the second quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock valued at $24,041,000 after acquiring an additional 626,067 shares during the period. Finally, TD Asset Management Inc grew its position in shares of QXO by 189.1% during the second quarter. TD Asset Management Inc now owns 891,482 shares of the company’s stock worth $19,203,000 after acquiring an additional 583,092 shares during the last quarter. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Price Performance

Shares of NYSE:QXO opened at $19.06 on Wednesday. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of -90.76, a PEG ratio of 2.58 and a beta of 2.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.00 and a quick ratio of 2.15. QXO, Inc. has a 12 month low of $11.85 and a 12 month high of $24.69. The stock’s 50 day moving average price is $19.33 and its 200 day moving average price is $19.29.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. QXO had a positive return on equity of 2.15% and a negative net margin of 1.09%.The firm’s revenue was up 20726.7% on a year-over-year basis. Equities research analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on QXO shares. Royal Bank Of Canada assumed coverage on shares of QXO in a research report on Monday, July 21st. They issued an “outperform” rating and a $33.00 price objective on the stock. KeyCorp set a $28.00 price target on QXO in a report on Wednesday, October 1st. Citigroup initiated coverage on QXO in a report on Wednesday, July 16th. They issued a “buy” rating and a $33.00 price objective for the company. Zacks Research cut QXO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Finally, Morgan Stanley assumed coverage on QXO in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.85.

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.