Braun Stacey Associates Inc. Raises Holdings in QXO, Inc. $QXO

Braun Stacey Associates Inc. increased its holdings in QXO, Inc. (NYSE:QXO) by 9.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,466,333 shares of the company’s stock after purchasing an additional 130,003 shares during the quarter. Braun Stacey Associates Inc.’s holdings in QXO were worth $25,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Fred Alger Management LLC boosted its position in QXO by 75.4% during the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock valued at $307,173,000 after acquiring an additional 6,844,574 shares in the last quarter. Schf GPE LLC lifted 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 purchasing an additional 8,943,089 shares during the last quarter. Cercano Management LLC boosted its position in QXO by 2.4% during the fourth quarter. Cercano Management LLC now owns 10,815,832 shares of the company’s stock valued at $208,637,000 after purchasing an additional 255,366 shares in the last quarter. Consulta Ltd boosted its position in QXO by 33.3% during the fourth quarter. Consulta Ltd now owns 10,000,000 shares of the company’s stock valued at $192,900,000 after purchasing an additional 2,500,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in QXO by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 8,777,960 shares of the company’s stock valued at $169,359,000 after purchasing an additional 61,120 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company set a $18.00 price target on shares of QXO in a report on Tuesday, July 28th. Weiss Ratings restated a “sell (d)” rating on shares of QXO in a report on Wednesday. Citigroup lowered their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Stephens lowered their price objective on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, QXO presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

QXO Stock Down 2.0%

QXO opened at $13.58 on Friday. The company has a fifty day moving average of $14.91 and a two-hundred day moving average of $18.38. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of -15.09, a PEG ratio of 2.39 and a beta of 2.28. QXO, Inc. has a fifty-two week low of $13.15 and a fifty-two week high of $27.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. On average, research analysts expect that QXO, Inc. will post 0.29 earnings per share for the current year.

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.