B. Metzler seel. Sohn & Co. AG Takes $4.42 Million Position in QXO, Inc. $QXO

B. Metzler seel. Sohn & Co. AG purchased a new stake in QXO, Inc. (NYSE:QXO) during the third quarter, according to its most recent filing with the SEC. The firm purchased 232,000 shares of the company’s stock, valued at approximately $4,422,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cladis Investment Advisory LLC grew its holdings in QXO by 646.2% during the third quarter. Cladis Investment Advisory LLC now owns 78,350 shares of the company’s stock valued at $1,493,000 after purchasing an additional 67,850 shares during the period. Natixis Advisors LLC raised its holdings in QXO by 104.9% in the third quarter. Natixis Advisors LLC now owns 65,566 shares of the company’s stock worth $1,250,000 after purchasing an additional 33,561 shares during the period. Blair William & Co. IL raised its holdings in QXO by 13.7% in the third quarter. Blair William & Co. IL now owns 82,015 shares of the company’s stock worth $1,563,000 after purchasing an additional 9,909 shares during the period. Neuberger Berman Group LLC boosted its position in shares of QXO by 36.0% during the third quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock worth $21,131,000 after purchasing an additional 293,351 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new position in shares of QXO during the third quarter worth $268,000. Institutional investors own 58.68% of the company’s stock.

QXO Trading Down 0.4%

NYSE:QXO opened at $21.72 on Tuesday. QXO, Inc. has a twelve month low of $11.97 and a twelve month high of $27.61. The company has a quick ratio of 2.61, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $23.72 and a two-hundred day moving average price of $21.04. The company has a market cap of $15.39 billion, a P/E ratio of -36.81, a price-to-earnings-growth ratio of 2.97 and a beta of 2.51.

QXO (NYSE:QXO) last posted its quarterly earnings data 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 analyst estimates of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The company’s revenue was up 14725.0% compared to the same quarter last year. As a group, analysts expect that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a research report on Friday, January 9th. 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. Truist Financial lowered their price target on QXO from $28.00 to $26.00 and set a “buy” rating for the company in a report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a research report on Monday, December 29th. Finally, Loop Capital began coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, QXO has a consensus rating of “Moderate Buy” and an average target price of $32.43.

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. 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.