Teacher Retirement System of Texas Has $1.67 Million Stock Holdings in QXO, Inc. $QXO

Teacher Retirement System of Texas increased its holdings in QXO, Inc. (NYSE:QXO) by 52.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,482 shares of the company’s stock after purchasing an additional 26,604 shares during the period. Teacher Retirement System of Texas’ holdings in QXO were worth $1,669,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd lifted its holdings in QXO by 530.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 376,483 shares of the company’s stock valued at $8,109,000 after purchasing an additional 316,754 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in QXO by 113.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 411,643 shares of the company’s stock valued at $8,867,000 after purchasing an additional 218,983 shares during the last quarter. Ingalls & Snyder LLC bought a new position in QXO during the 2nd quarter valued at about $262,000. State of New Jersey Common Pension Fund D lifted its holdings in QXO by 4.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 164,147 shares of the company’s stock valued at $3,536,000 after purchasing an additional 6,485 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in QXO by 22.9% during the 2nd quarter. AlphaQuest LLC now owns 5,907 shares of the company’s stock valued at $127,000 after purchasing an additional 1,099 shares during the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Price Performance

QXO opened at $16.95 on Wednesday. QXO, Inc. has a one year low of $11.85 and a one year high of $24.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.00 and a quick ratio of 2.15. The company’s 50 day simple moving average is $19.65 and its 200-day simple moving average is $19.12. The stock has a market capitalization of $11.42 billion, a P/E ratio of -80.71, a price-to-earnings-growth ratio of 2.58 and a beta of 2.25.

QXO (NYSE:QXO) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Sell-side analysts anticipate that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QXO has been the subject of several analyst reports. KeyCorp set a $28.00 price target on shares of QXO in a report on Wednesday, October 1st. Royal Bank Of Canada initiated coverage on shares of QXO in a report on Monday, July 21st. They set an “outperform” rating and a $33.00 price target for the company. Truist Financial cut their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Raymond James Financial initiated coverage on shares of QXO in a report on Friday, September 5th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Vertical Research assumed coverage on shares of QXO in a report on Tuesday, October 21st. They set a “buy” rating and a $30.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, QXO presently has an average rating of “Moderate Buy” and a consensus target price of $32.85.

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.