487,375 Shares of QXO, Inc. $QXO Bought by Leeward Investments LLC MA

Leeward Investments LLC MA bought a new position in shares of QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 487,375 shares of the company’s stock, valued at approximately $5,697,000.

Other institutional investors have also modified their holdings of the company. Carnegie Investment Counsel boosted its stake in shares of QXO by 38.6% during the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock valued at $6,013,000 after buying an additional 86,265 shares during the last quarter. CI Investments Inc. grew its position in shares of QXO by 4.1% during the first quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after buying an additional 102,838 shares in the last quarter. Gainplan LLC increased its stake in shares of QXO by 390.2% in the third quarter. Gainplan LLC now owns 502,025 shares of the company’s stock worth $5,869,000 after buying an additional 399,605 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in shares of QXO by 25.9% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 5,703,964 shares of the company’s stock worth $66,679,000 after buying an additional 1,173,274 shares during the last quarter. Finally, Hudson Value Partners LLC raised its holdings in QXO by 87.6% in the second quarter. Hudson Value Partners LLC now owns 215,998 shares of the company’s stock valued at $3,732,000 after acquiring an additional 100,856 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Performance

QXO stock opened at $10.48 on Tuesday. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The firm has a market cap of $10.87 billion, a P/E ratio of 87.58, a P/E/G ratio of 2.21 and a beta of 2.30. QXO, Inc. has a 12-month low of $10.03 and a 12-month high of $27.61. The stock’s 50 day simple moving average is $12.24 and its 200 day simple moving average is $17.68.

QXO (NYSE:QXO) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. As a group, equities research analysts predict that QXO, Inc. will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on QXO shares. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Benchmark reissued a “buy” rating on shares of QXO in a research report on Friday, August 14th. DA Davidson set a $20.00 target price on shares of QXO in a research report on Friday, October 9th. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a research note on Wednesday, August 26th. Finally, Citigroup reduced their price target on shares of QXO from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. One investment 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 stock. According to MarketBeat.com, QXO currently has an average rating of “Moderate Buy” and an average price target of $24.77.

QXO Company Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO’s strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.