QXO, Inc. $QXO Shares Purchased by Canton Hathaway LLC

Canton Hathaway LLC raised its position in QXO, Inc. (NYSE:QXO) by 19.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 363,787 shares of the company’s stock after purchasing an additional 59,150 shares during the period. QXO makes up about 1.3% of Canton Hathaway LLC’s investment portfolio, making the stock its 8th biggest holding. Canton Hathaway LLC owned about 0.05% of QXO worth $6,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in shares of QXO in the 2nd quarter valued at $25,000. American Capital Advisory LLC lifted its holdings in QXO by 258.0% during the second quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares in the last quarter. Allworth Financial LP grew its stake in QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after acquiring an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of QXO in the second quarter worth about $28,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of QXO in the second quarter worth about $30,000. 58.68% of the stock is owned by institutional investors.

QXO Trading Down 2.4%

Shares of NYSE:QXO opened at $23.40 on Thursday. The company’s 50-day moving average price is $19.53 and its two-hundred day moving average price is $20.12. 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 0.37, a current ratio of 3.06 and a quick ratio of 2.24. The stock has a market capitalization of $15.78 billion, a PE ratio of -53.18, a price-to-earnings-growth ratio of 2.62 and a beta of 2.44.

QXO (NYSE:QXO) last released its 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 business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. QXO had a positive return on equity of 3.70% and a negative net margin of 3.81%.The company’s revenue was up 20726.7% compared to the same quarter last year. On average, equities analysts forecast that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on QXO. Vertical Research assumed coverage on QXO in a report on Tuesday, October 21st. They set a “buy” rating and a $30.00 price objective on the stock. Loop Capital started coverage on shares of QXO in a research note on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target on the stock. KeyCorp set a $28.00 price objective on shares of QXO in a research report on Wednesday, October 1st. Zacks Research cut shares of QXO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.57.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.