QXO, Inc. $QXO Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its position in shares of QXO, Inc. (NYSE:QXO) by 12,351.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 71,098 shares of the company’s stock after buying an additional 70,527 shares during the quarter. Nisa Investment Advisors LLC’s holdings in QXO were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Red Door Wealth Management LLC lifted its holdings in shares of QXO by 3.9% during the first quarter. Red Door Wealth Management LLC now owns 15,982 shares of the company’s stock worth $310,000 after buying an additional 600 shares in the last quarter. NFSG Corp grew its stake in shares of QXO by 39.6% in the first quarter. NFSG Corp now owns 2,198 shares of the company’s stock valued at $43,000 after acquiring an additional 623 shares in the last quarter. Strs Ohio grew its stake in shares of QXO by 1.1% in the first quarter. Strs Ohio now owns 69,393 shares of the company’s stock valued at $1,348,000 after acquiring an additional 760 shares in the last quarter. First Bank & Trust grew its stake in shares of QXO by 7.3% in the second quarter. First Bank & Trust now owns 15,047 shares of the company’s stock valued at $260,000 after acquiring an additional 1,026 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its position in QXO by 7.2% during the third quarter. Valeo Financial Advisors LLC now owns 15,860 shares of the company’s stock worth $185,000 after acquiring an additional 1,062 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Price Performance

Shares of NYSE QXO opened at $10.62 on Wednesday. The business has a fifty day moving average price of $12.09 and a two-hundred day moving average price of $17.55. The stock has a market capitalization of $11.02 billion, a PE ratio of -11.81 and a beta of 2.30. QXO, Inc. has a fifty-two week low of $10.03 and a fifty-two week high of $27.61.

QXO (NYSE:QXO) last released its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. On average, equities analysts expect that QXO, Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. KeyCorp dropped their price objective on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Benchmark restated a “buy” rating on shares of QXO in a research report on Friday, August 14th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Truist Financial lowered their target price on shares of QXO from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Finally, Morgan Stanley initiated coverage on shares of QXO in a research report on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, QXO currently has an average rating of “Moderate Buy” and an average target price of $24.77.

QXO 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.