Amalgamated Bank Buys Shares of 30,540 QXO, Inc. $QXO

Amalgamated Bank purchased a new position in shares of QXO, Inc. (NYSE:QXO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,540 shares of the company’s stock, valued at approximately $658,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in QXO by 146.1% during the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock worth $334,539,000 after acquiring an additional 14,667,571 shares during the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new stake in shares of QXO during the first quarter valued at about $118,142,000. Massachusetts Financial Services Co. MA boosted its stake in shares of QXO by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company’s stock valued at $25,535,000 after purchasing an additional 8,322 shares in the last quarter. Catawba River Capital grew its holdings in shares of QXO by 127.8% during the second quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock worth $24,041,000 after purchasing an additional 626,067 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of QXO by 189.1% in the second quarter. TD Asset Management Inc now owns 891,482 shares of the company’s stock valued at $19,203,000 after buying an additional 583,092 shares during the period. 58.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QXO has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research report on Wednesday, October 8th. Morgan Stanley started coverage on shares of QXO in a research note on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target for the company. Vertical Research initiated coverage on shares of QXO in a research note on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price objective on the stock. Raymond James Financial initiated coverage on QXO in a report on Friday, September 5th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Benchmark raised QXO to a “strong-buy” rating in a report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.85.

QXO Price Performance

QXO stock opened at $17.15 on Friday. The stock has a market capitalization of $11.55 billion, a price-to-earnings ratio of -81.64, a PEG ratio of 2.58 and a beta of 2.26. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. The stock’s 50 day moving average price is $19.41 and its two-hundred day moving average price is $19.11.

QXO (NYSE:QXO) last released its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The company’s revenue was up 20726.7% compared to the same quarter last year. On average, equities analysts predict that QXO, Inc. will post -0.13 earnings per share for the current year.

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.