Fiduciary Alliance LLC Purchases 64,400 Shares of QXO, Inc. $QXO

Fiduciary Alliance LLC boosted its position in shares of QXO, Inc. (NYSE:QXO) by 155.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,820 shares of the company’s stock after acquiring an additional 64,400 shares during the period. Fiduciary Alliance LLC’s holdings in QXO were worth $2,017,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Alpha Wave Global LP bought a new position in shares of QXO in the second quarter worth about $525,366,000. Vanguard Group Inc. grew its holdings in QXO by 91.0% in the 2nd quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock valued at $1,016,525,000 after buying an additional 22,484,977 shares during the last quarter. Affinity Partners GP LP increased its position in QXO by 99.1% in the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after buying an additional 16,260,163 shares during the period. Schf GPE LLC lifted its holdings in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares during the last quarter. Finally, Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new position in shares of QXO during the first quarter worth approximately $118,142,000. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Price Performance

Shares of QXO stock opened at $21.89 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The firm’s 50-day simple moving average is $18.76 and its 200-day simple moving average is $19.94. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $24.69. The firm has a market cap of $14.76 billion, a P/E ratio of -49.75, a price-to-earnings-growth ratio of 3.18 and a beta of 2.42.

QXO (NYSE:QXO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.78 billion. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The company’s revenue for the quarter was up 20726.7% compared to the same quarter last year. As a group, research analysts expect that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Vertical Research assumed 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. Benchmark upgraded shares of QXO to a “strong-buy” rating in a research report on Monday, August 25th. Zacks Research lowered shares of QXO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Loop Capital began coverage on shares of QXO in a research note on Thursday, December 11th. They issued a “buy” rating and a $31.00 target price for the company. Finally, Truist Financial decreased their target price on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.71.

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.