Cwm LLC Purchases New Position in QXO, Inc. (NASDAQ:QXO)

Cwm LLC purchased a new stake in shares of QXO, Inc. (NASDAQ:QXO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,023 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors also recently modified their holdings of QXO. JPMorgan Chase & Co. grew its holdings in QXO by 523.9% in the fourth quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company’s stock worth $13,959,000 after purchasing an additional 737,192 shares during the period. Pictet Asset Management Holding SA purchased a new stake in QXO in the fourth quarter worth about $734,000. Alliancebernstein L.P. purchased a new stake in QXO in the fourth quarter worth about $264,000. Wells Fargo & Company MN grew its holdings in QXO by 277.5% in the fourth quarter. Wells Fargo & Company MN now owns 29,159 shares of the company’s stock worth $464,000 after purchasing an additional 21,435 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of QXO by 26.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 138,756 shares of the company’s stock worth $2,206,000 after buying an additional 29,311 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on QXO shares. Baird R W upgraded shares of QXO to a “strong-buy” rating in a research note on Thursday, June 12th. Wells Fargo & Company started coverage on shares of QXO in a research note on Tuesday. They issued an “overweight” rating and a $30.00 target price on the stock. Oppenheimer started coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an “outperform” rating and a $27.00 target price on the stock. Royal Bank Of Canada started coverage on shares of QXO in a research note on Monday, July 21st. They issued an “outperform” rating and a $33.00 target price on the stock. Finally, Wolfe Research started coverage on shares of QXO in a research note on Friday, June 6th. They issued an “outperform” rating and a $44.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QXO has a consensus rating of “Buy” and an average price target of $32.71.

QXO Stock Down 0.7%

Shares of QXO stock opened at $19.48 on Wednesday. The company has a market cap of $11.30 billion, a price-to-earnings ratio of -2.14, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35. The company’s 50 day moving average is $20.61 and its 200 day moving average is $16.13. QXO, Inc. has a twelve month low of $10.61 and a twelve month high of $24.69.

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.