Tritonpoint Wealth LLC Buys Shares of 285,892 QXO, Inc. $QXO

Tritonpoint Wealth LLC bought a new stake in shares of QXO, Inc. (NYSE:QXO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 285,892 shares of the company’s stock, valued at approximately $5,449,000.

Several other large investors also recently modified their holdings of QXO. Vanguard Group Inc. grew its holdings in QXO by 91.0% during the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock valued at $1,016,525,000 after purchasing an additional 22,484,977 shares during the period. Affinity Partners GP LP lifted its position in shares of QXO by 99.1% during the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after buying an additional 16,260,163 shares during the last quarter. Alpha Wave Global LP purchased a new position in shares of QXO during the 2nd quarter valued at $525,366,000. Schf GPE LLC grew its stake 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 worth $286,901,000 after acquiring an additional 8,943,089 shares during the period. Finally, Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new stake in QXO in the 1st quarter worth about $118,142,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Down 0.3%

Shares of NYSE:QXO opened at $21.57 on Thursday. The firm has a fifty day moving average price of $18.98 and a two-hundred day moving average price of $20.09. The company has a market cap of $14.54 billion, a price-to-earnings ratio of -49.01, a PEG ratio of 3.31 and a beta of 2.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. QXO, Inc. has a one year low of $11.85 and a one year high of $24.69.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The company’s revenue for the quarter was up 20726.7% compared to the same quarter last year. Analysts anticipate that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on QXO shares. KeyCorp set a $28.00 price objective on QXO in a research note on Wednesday, October 1st. Morgan Stanley began coverage on shares of QXO in a research report on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 price target on the stock. Raymond James Financial initiated coverage on shares of QXO in a report on Friday, September 5th. They issued an “outperform” rating and a $28.00 price objective for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a report on Monday. Finally, Vertical Research began coverage on QXO in a report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, QXO presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.57.

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.