QXO, Inc. $QXO Shares Purchased by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC raised its stake in shares of QXO, Inc. (NYSE:QXO) by 213.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 413,430 shares of the company’s stock after buying an additional 281,505 shares during the quarter. QXO comprises about 1.2% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Wellington Shields Capital Management LLC owned about 0.06% of QXO worth $7,880,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of QXO. American Capital Advisory LLC lifted its position in shares of QXO by 258.0% in the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after acquiring an additional 841 shares in the last quarter. Allworth Financial LP raised its stake in QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in QXO in the 2nd quarter valued at about $28,000. Bogart Wealth LLC acquired a new stake in shares of QXO during the 3rd quarter worth about $25,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of QXO during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Up 9.6%

Shares of NYSE QXO opened at $23.06 on Friday. The stock has a market capitalization of $15.56 billion, a PE ratio of -52.41, a P/E/G ratio of 2.59 and a beta of 2.55. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average of $22.27 and a 200-day moving average of $20.43. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $26.24.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QXO. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. Vertical Research started coverage on QXO in a report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price target for the company. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, January 16th. Truist Financial lowered their price objective on QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Finally, Royal Bank Of Canada set a $30.00 target price on QXO in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, QXO has an average rating of “Moderate Buy” and an average price target of $32.43.

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.