QXO, Inc. $QXO Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in QXO, Inc. (NYSE:QXO) by 53.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,700 shares of the company’s stock after purchasing an additional 59,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in QXO were worth $3,293,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QXO. Baillie Gifford & Co. raised its stake in QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after purchasing an additional 14,644,305 shares during the last quarter. MTCO Ltd. acquired a new position in QXO in the 3rd quarter valued at $208,534,000. Fred Alger Management LLC acquired a new position in QXO in the 3rd quarter valued at $173,053,000. Schf GPE LLC raised its stake in QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in QXO by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Stock Down 1.9%

Shares of NYSE:QXO opened at $16.71 on Friday. The business has a 50-day moving average price of $19.83 and a 200 day moving average price of $21.06. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of -18.36, a PEG ratio of 4.27 and a beta of 2.40. QXO, Inc. has a 12-month low of $15.50 and a 12-month high of $27.61.

QXO (NYSE:QXO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates 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 for the quarter was up 12716.3% on a year-over-year basis. Sell-side analysts expect that QXO, Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank Of Canada cut their target price on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. KeyCorp raised their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Oppenheimer raised their target price on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, February 20th. Finally, Zacks Research downgraded QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Sixteen research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

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.