Braun Stacey Associates Inc. Raises Position in QXO, Inc. $QXO

Braun Stacey Associates Inc. boosted its position in shares of QXO, Inc. (NYSE:QXO) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,298,850 shares of the company’s stock after buying an additional 33,565 shares during the period. Braun Stacey Associates Inc. owned 0.19% of QXO worth $25,055,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in QXO. Vanguard Group Inc. boosted its stake in shares of QXO by 17.2% in the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares during the last quarter. Affinity Partners GP LP raised its stake in QXO by 99.1% in the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock valued at $703,745,000 after purchasing an additional 16,260,163 shares during the last quarter. Finepoint Capital LP raised its stake in QXO by 5.4% in the 3rd quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock valued at $424,954,000 after purchasing an additional 1,142,747 shares during the last quarter. Schf GPE LLC lifted its holdings in QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares in the last quarter. Finally, MTCO Ltd. purchased a new position in QXO in the 3rd quarter valued at $208,534,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on QXO shares. Royal Bank Of Canada set a $30.00 target price on shares of QXO in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Citigroup lowered their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. BNP Paribas Exane began coverage on shares of QXO in a research note on Monday, March 16th. They set an “outperform” rating and a $30.00 price objective for the company. Finally, William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.27.

QXO Stock Down 0.2%

Shares of QXO opened at $19.00 on Friday. QXO, Inc. has a 52-week low of $11.97 and a 52-week 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 stock has a fifty day simple moving average of $22.41 and a two-hundred day simple moving average of $20.89. The company has a market capitalization of $13.49 billion, a PE ratio of -32.20, a price-to-earnings-growth ratio of 3.04 and a beta of 2.50.

QXO (NYSE:QXO) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). 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% on a year-over-year basis. As a group, equities analysts forecast that QXO, Inc. will post -0.13 EPS for the current year.

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.