Swedbank AB Purchases New Shares in QXO, Inc. $QXO

Swedbank AB purchased a new stake in QXO, Inc. (NYSE:QXO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 501,000 shares of the company’s stock, valued at approximately $9,664,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nordwand Advisors LLC boosted its position in shares of QXO by 4.8% in the 4th quarter. Nordwand Advisors LLC now owns 304,725 shares of the company’s stock valued at $5,878,000 after purchasing an additional 13,975 shares during the period. Triasima Portfolio Management inc. boosted its position in shares of QXO by 9.1% in the 4th quarter. Triasima Portfolio Management inc. now owns 25,160 shares of the company’s stock valued at $485,000 after purchasing an additional 2,104 shares during the period. Truist Financial Corp boosted its position in shares of QXO by 31.6% in the 4th quarter. Truist Financial Corp now owns 200,317 shares of the company’s stock valued at $3,864,000 after purchasing an additional 48,124 shares during the period. Benjamin Edwards Inc. boosted its position in shares of QXO by 39.6% in the 4th quarter. Benjamin Edwards Inc. now owns 67,108 shares of the company’s stock valued at $1,294,000 after purchasing an additional 19,043 shares during the period. Finally, Strs Ohio boosted its position in shares of QXO by 369.9% in the 4th quarter. Strs Ohio now owns 68,633 shares of the company’s stock valued at $1,324,000 after purchasing an additional 54,026 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Down 0.6%

Shares of QXO stock opened at $18.66 on Friday. The stock has a 50-day moving average price of $21.03 and a 200 day moving average price of $21.17. The company has a market cap of $13.53 billion, a P/E ratio of -31.62, a P/E/G ratio of 2.64 and a beta of 2.40. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 1 year low of $13.72 and a 1 year high of $27.61.

QXO (NYSE:QXO) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The firm’s revenue was up 14725.0% compared to the same quarter last year. As a group, analysts expect that QXO, Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada decreased their price target on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. KeyCorp increased their price objective on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Wall Street Zen downgraded QXO from a “sell” rating to a “strong sell” rating in a research note on Saturday. Citigroup reduced their price objective on QXO from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Oppenheimer increased their price objective on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.47.

QXO Company 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.