Charles Schwab Investment Management Inc. Has $20.39 Million Holdings in QXO, Inc. $QXO

Charles Schwab Investment Management Inc. cut its holdings in shares of QXO, Inc. (NASDAQ:QXO) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,506,186 shares of the company’s stock after selling 38,038 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.34% of QXO worth $20,394,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. First Horizon Advisors Inc. increased its stake in QXO by 57.4% during the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock worth $38,000 after acquiring an additional 1,017 shares during the period. Larson Financial Group LLC acquired a new stake in shares of QXO during the 1st quarter worth $26,000. Lewis Asset Management LLC increased its position in shares of QXO by 18.3% in the first quarter. Lewis Asset Management LLC now owns 12,900 shares of the company’s stock worth $175,000 after purchasing an additional 2,000 shares during the period. Ridgewood Investments LLC bought a new position in shares of QXO in the first quarter worth $27,000. Finally, CWM LLC acquired a new position in QXO in the first quarter valued at about $27,000. 58.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on QXO. Zacks Research upgraded shares of QXO from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Wolfe Research initiated coverage on shares of QXO in a research report on Friday, June 6th. They set an “outperform” rating and a $44.00 price target on the stock. Baird R W upgraded shares of QXO to a “strong-buy” rating in a research report on Thursday, June 12th. Robert W. Baird assumed coverage on QXO in a research note on Thursday, June 12th. They set an “outperform” rating and a $32.00 target price for the company. Finally, Citigroup assumed coverage on QXO in a research note on Wednesday, July 16th. They issued a “buy” rating and a $33.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to data from MarketBeat.com, QXO currently has a consensus rating of “Buy” and a consensus target price of $32.25.

QXO Trading Down 2.2%

Shares of QXO stock opened at $18.8480 on Friday. The firm’s 50 day moving average is $21.09 and its 200 day moving average is $16.66. The firm has a market capitalization of $10.94 billion, a PE ratio of -2.07, a price-to-earnings-growth ratio of 4.09 and a beta of 2.34. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $24.69.

QXO Company 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.