Raymond James Financial Inc. Makes New $1.24 Million Investment in QXO, Inc. (NASDAQ:QXO)

Raymond James Financial Inc. purchased a new position in shares of QXO, Inc. (NASDAQ:QXO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,652 shares of the company’s stock, valued at approximately $1,235,000.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of QXO during the fourth quarter worth $4,764,000. Invesco Ltd. bought a new position in shares of QXO during the fourth quarter worth about $164,000. Federated Hermes Inc. acquired a new position in shares of QXO in the fourth quarter worth approximately $50,532,000. Envestnet Asset Management Inc. boosted its holdings in QXO by 26.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 138,756 shares of the company’s stock valued at $2,206,000 after acquiring an additional 29,311 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in QXO by 277.5% during the 4th quarter. Wells Fargo & Company MN now owns 29,159 shares of the company’s stock valued at $464,000 after purchasing an additional 21,435 shares during the period. 58.68% of the stock is currently owned by institutional investors.

QXO Stock Up 7.5 %

QXO stock opened at $14.22 on Friday. The company’s fifty day simple moving average is $13.28 and its 200 day simple moving average is $14.49. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $290.00. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of -1.56, a PEG ratio of 4.09 and a beta of 2.16.

About QXO

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.