New York State Common Retirement Fund Acquires 89,800 Shares of QXO, Inc. $QXO

New York State Common Retirement Fund grew its holdings in shares of QXO, Inc. (NYSE:QXO) by 37.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 328,300 shares of the company’s stock after purchasing an additional 89,800 shares during the period. New York State Common Retirement Fund’s holdings in QXO were worth $6,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada increased its position in QXO by 67.5% during the 1st quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after buying an additional 48,248 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of QXO in the first quarter worth $615,000. Millennium Management LLC increased its holdings in shares of QXO by 6.6% during the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after acquiring an additional 20,067 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of QXO by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock worth $9,449,000 after purchasing an additional 81,758 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in shares of QXO in the 2nd quarter worth about $25,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on QXO shares. Vertical Research started coverage on shares of QXO in a research note on Tuesday, October 21st. They set a “buy” rating and a $30.00 price objective for the company. Truist Financial reduced their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research report on Friday, January 16th. Royal Bank Of Canada set a $30.00 target price on QXO in a research note on Friday, January 9th. Finally, Oppenheimer lifted their target price on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

QXO Price Performance

Shares of QXO opened at $20.97 on Friday. The firm has a fifty day simple moving average of $22.19 and a two-hundred day simple moving average of $20.42. The firm has a market cap of $14.14 billion, a PE ratio of -47.65, a P/E/G ratio of 2.84 and a beta of 2.55. The company has a current ratio of 3.06, a quick ratio of 2.24 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $26.24.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $2.73 billion during 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 business’s revenue was up 20726.7% compared to the same quarter last year. On average, equities analysts anticipate that QXO, Inc. will post -0.13 EPS for the current year.

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.