KBC Group NV Purchases 3,126 Shares of QXO, Inc. (NASDAQ:QXO)

KBC Group NV raised its position in shares of QXO, Inc. (NASDAQ:QXO) by 23.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,270 shares of the company’s stock after purchasing an additional 3,126 shares during the quarter. KBC Group NV’s holdings in QXO were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Effects LLC grew its stake in shares of QXO by 33.3% in the first quarter. Wealth Effects LLC now owns 16,000 shares of the company’s stock worth $217,000 after acquiring an additional 4,000 shares during the period. Bessemer Group Inc. bought a new stake in shares of QXO in the first quarter worth approximately $52,000. Oppenheimer & Co. Inc. grew its stake in shares of QXO by 27.6% in the first quarter. Oppenheimer & Co. Inc. now owns 85,180 shares of the company’s stock worth $1,153,000 after acquiring an additional 18,423 shares during the period. Cherry Creek Investment Advisors Inc. grew its stake in shares of QXO by 57.5% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 46,980 shares of the company’s stock worth $636,000 after acquiring an additional 17,159 shares during the period. Finally, Praxis Investment Management Inc. bought a new stake in shares of QXO in the first quarter worth approximately $156,000. 58.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on QXO shares. Robert W. Baird started coverage on shares of QXO in a report on Thursday, June 12th. They issued an “outperform” rating and a $32.00 price objective on the stock. William Blair began coverage on shares of QXO in a report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Oppenheimer began coverage on shares of QXO in a report on Wednesday, June 11th. They set an “outperform” rating and a $27.00 price target on the stock. Baird R W raised shares of QXO to a “strong-buy” rating in a report on Thursday, June 12th. Finally, Wolfe Research began coverage on shares of QXO in a report on Friday, June 6th. They set an “outperform” rating and a $44.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $33.25.

QXO Price Performance

Shares of NASDAQ:QXO opened at $21.95 on Monday. QXO, Inc. has a 1-year low of $10.61 and a 1-year high of $157.28. The company has a market capitalization of $12.74 billion, a P/E ratio of -2.41, a P/E/G ratio of 4.09 and a beta of 2.41. The firm’s 50 day simple moving average is $18.02 and its two-hundred day simple moving average is $15.26.

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.