Truist Financial Corp Has $2.90 Million Holdings in QXO, Inc. $QXO

Truist Financial Corp raised its position in shares of QXO, Inc. (NYSE:QXO) by 19.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,193 shares of the company’s stock after purchasing an additional 25,042 shares during the period. Truist Financial Corp’s holdings in QXO were worth $2,901,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in QXO. Novare Capital Management LLC bought a new position in QXO during the third quarter valued at approximately $297,000. CFM Wealth Partners LLC acquired a new position in shares of QXO during the 3rd quarter worth $628,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of QXO by 21.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,492 shares of the company’s stock valued at $295,000 after purchasing an additional 2,688 shares in the last quarter. Intact Investment Management Inc. acquired a new position in QXO during the third quarter worth $982,000. Finally, Investment House LLC increased its position in QXO by 241.6% during the third quarter. Investment House LLC now owns 687,379 shares of the company’s stock worth $13,101,000 after buying an additional 486,185 shares during the last quarter. Institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

QXO has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Loop Capital initiated coverage on QXO in a report on Thursday, December 11th. They issued a “buy” rating and a $31.00 target price for the company. Royal Bank Of Canada set a $30.00 target price on QXO in a research report on Friday, January 9th. William Blair reiterated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Finally, Citigroup reduced their price objective on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.43.

QXO Trading Down 9.4%

Shares of QXO stock opened at $20.97 on Friday. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $26.24. The company’s fifty day simple moving average is $22.19 and its 200-day simple moving average is $20.42. The company has a market cap of $14.14 billion, a price-to-earnings ratio of -47.65, a PEG ratio of 2.84 and a beta of 2.55. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37.

QXO (NYSE:QXO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.78 billion. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The firm’s revenue for the quarter was up 20726.7% on a year-over-year basis. As a group, sell-side analysts expect that QXO, Inc. will post -0.13 EPS for the current year.

QXO Company 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.