Legal & General Group Plc Has $9.85 Million Stake in QXO, Inc. $QXO

Legal & General Group Plc lowered its position in QXO, Inc. (NYSE:QXO) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 510,635 shares of the company’s stock after selling 58,282 shares during the period. Legal & General Group Plc owned 0.08% of QXO worth $9,850,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its position 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 valued at $284,241,000 after acquiring an additional 14,644,305 shares during the period. MTCO Ltd. acquired a new position in shares of QXO during the 3rd quarter valued at $208,534,000. Fred Alger Management LLC acquired a new position in shares of QXO during the 3rd quarter valued at $173,053,000. Schf GPE LLC lifted its position 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 valued at $286,901,000 after acquiring an additional 8,943,089 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of QXO by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after acquiring an additional 8,131,331 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Trading Down 1.7%

NYSE:QXO opened at $16.17 on Friday. 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 has a 50-day moving average of $19.25 and a 200-day moving average of $21.04. The company has a market cap of $11.73 billion, a PE ratio of -17.76, a PEG ratio of 4.22 and a beta of 2.30. QXO, Inc. has a one year low of $15.50 and a one year high of $27.61.

QXO (NYSE:QXO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate 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 was up 12716.3% compared to the same quarter last year. As a group, equities research analysts expect that QXO, Inc. will post 0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

QXO has been the topic of a number of research reports. Oppenheimer boosted their target price on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Stephens dropped their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Robert W. Baird dropped their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Citigroup dropped their target price 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, Benchmark reiterated a “buy” rating on shares of QXO in a research report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

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.