74,100 Shares in QXO, Inc. $QXO Purchased by Polianta Ltd

Polianta Ltd bought a new position in QXO, Inc. (NYSE:QXO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 74,100 shares of the company’s stock, valued at approximately $1,412,000.

Other institutional investors have also recently made changes to their positions in the company. Cherry Creek Investment Advisors Inc. grew its position in QXO by 48.5% in the 2nd quarter. Cherry Creek Investment Advisors Inc. now owns 69,780 shares of the company’s stock worth $1,503,000 after purchasing an additional 22,800 shares during the period. Seven Grand Managers LLC bought a new stake in shares of QXO in the second quarter worth $14,939,000. Vanguard Group Inc. grew its holdings in shares of QXO by 91.0% in the second quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after acquiring an additional 22,484,977 shares during the period. Amundi increased its position in QXO by 26.4% during the first quarter. Amundi now owns 715,087 shares of the company’s stock valued at $9,861,000 after acquiring an additional 149,504 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in QXO by 66.7% in the second quarter. Legal & General Group Plc now owns 587,511 shares of the company’s stock worth $12,655,000 after purchasing an additional 235,084 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QXO shares. Zacks Research lowered shares of QXO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a research note on Monday. KeyCorp set a $28.00 target price on QXO in a research report on Wednesday, October 1st. Loop Capital began coverage on QXO in a research report on Thursday, December 11th. They issued a “buy” rating and a $31.00 price target for the company. Finally, Morgan Stanley started coverage on QXO in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.57.

QXO Stock Down 0.3%

Shares of QXO opened at $21.57 on Friday. The business’s 50 day simple moving average is $19.03 and its 200-day simple moving average is $20.10. QXO, Inc. has a 1 year low of $11.85 and a 1 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 $14.54 billion, a price-to-earnings ratio of -49.01, a price-to-earnings-growth ratio of 3.30 and a beta of 2.42.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. QXO had a negative net margin of 3.81% and a positive return on equity of 3.70%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.78 billion. QXO’s revenue was up 20726.7% compared to the same quarter last year. As a group, equities analysts expect that QXO, Inc. will post -0.13 earnings per share for the current fiscal 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.