Carmel Capital Partners LLC Buys 76,365 Shares of QXO, Inc. $QXO

Carmel Capital Partners LLC increased its stake in QXO, Inc. (NYSE:QXO) by 164.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 122,725 shares of the company’s stock after purchasing an additional 76,365 shares during the quarter. Carmel Capital Partners LLC’s holdings in QXO were worth $2,367,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in QXO. Vanguard Group Inc. grew its holdings in QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Finepoint Capital LP raised its position in shares of QXO by 5.4% in the third 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 period. Baillie Gifford & Co. lifted its stake in shares of QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after buying an additional 14,644,305 shares during the last quarter. Schf GPE LLC boosted its holdings in shares of QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares during the period. Finally, MTCO Ltd. bought a new stake in shares of QXO during the 3rd quarter worth $208,534,000. Institutional investors own 58.68% of the company’s stock.

QXO Price Performance

Shares of QXO stock opened at $20.98 on Friday. The firm has a market cap of $14.89 billion, a P/E ratio of -35.55, a price-to-earnings-growth ratio of 3.45 and a beta of 2.50. The firm’s 50-day simple moving average is $21.93 and its 200-day simple moving average is $21.13. QXO, Inc. has a twelve month low of $12.50 and a twelve month high of $27.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58.

QXO (NYSE:QXO) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The business’s revenue was up 14725.0% compared to the same quarter last year. As a group, research analysts expect that QXO, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on QXO shares. BNP Paribas Exane initiated coverage on shares of QXO in a report on Monday, March 16th. They issued an “outperform” rating and a $30.00 target price on the stock. KeyCorp upped their price target on shares of QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Citigroup lowered their price target on QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. William Blair reiterated an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Oppenheimer boosted their price objective on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, QXO has an average rating of “Moderate Buy” and a consensus price target of $32.40.

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.