40,985 Shares in QXO, Inc. $QXO Purchased by Headlands Technologies LLC

Headlands Technologies LLC purchased a new stake in shares of QXO, Inc. (NYSE:QXO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 40,985 shares of the company’s stock, valued at approximately $708,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schf GPE LLC boosted its position in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after buying an additional 8,943,089 shares during the period. Norges Bank purchased a new stake in shares of QXO in the fourth quarter worth approximately $140,421,000. Fred Alger Management LLC raised its holdings in shares of QXO by 75.4% in the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock worth $307,173,000 after buying an additional 6,844,574 shares during the period. Sound Shore Management Inc. CT bought a new stake in shares of QXO during the 4th quarter worth approximately $77,199,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of QXO by 110.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,513,588 shares of the company’s stock worth $125,648,000 after acquiring an additional 3,417,670 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on QXO shares. Stephens cut their price objective on QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Robert W. Baird decreased their target price on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. 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. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, August 14th. Finally, Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

QXO Price Performance

Shares of NYSE QXO opened at $12.86 on Wednesday. The business’s 50 day moving average price is $14.78 and its 200 day moving average price is $18.18. The firm has a market cap of $13.34 billion, a P/E ratio of -14.29, a P/E/G ratio of 2.29 and a beta of 2.32. QXO, Inc. has a 52 week low of $12.82 and a 52 week high of $27.61. The company has a quick ratio of 3.29, a current ratio of 4.11 and a debt-to-equity ratio of 0.66.

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

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.