American Century Companies Inc. Has $29.08 Million Holdings in QXO, Inc. $QXO

American Century Companies Inc. increased its position in shares of QXO, Inc. (NYSE:QXO) by 3,828.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,525,864 shares of the company’s stock after purchasing an additional 1,487,021 shares during the period. American Century Companies Inc. owned about 0.23% of QXO worth $29,083,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of QXO. Seven Grand Managers LLC acquired a new stake in QXO in the 2nd quarter valued at $14,939,000. Intact Investment Management Inc. acquired a new position in QXO during the third quarter worth $982,000. Campbell & CO Investment Adviser LLC acquired a new position in QXO during the third quarter worth $1,006,000. Vanguard Group Inc. lifted its holdings in shares of QXO by 91.0% during the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock valued at $1,016,525,000 after acquiring an additional 22,484,977 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of QXO by 66.7% during the second quarter. Legal & General Group Plc now owns 587,511 shares of the company’s stock valued at $12,655,000 after acquiring an additional 235,084 shares during the period. 58.68% of the stock is currently owned by institutional investors and hedge funds.

QXO Price Performance

Shares of QXO stock opened at $21.86 on Friday. QXO, Inc. has a 52 week low of $11.97 and a 52 week high of $27.61. The stock has a market capitalization of $15.49 billion, a PE ratio of -37.05, a PEG ratio of 2.97 and a beta of 2.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.58. The stock’s fifty day moving average is $23.71 and its 200-day moving average is $21.01.

QXO (NYSE:QXO) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The firm’s revenue for the quarter was up 14725.0% compared to the same quarter last year. Equities research analysts expect that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QXO. Benchmark reaffirmed a “buy” rating on shares of QXO in a report on Friday, February 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Loop Capital began coverage on shares of QXO in a research report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target on the stock. Oppenheimer upped their price objective on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Finally, Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

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. 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.