Legal & General Group Plc Sells 58,282 Shares of QXO, Inc. $QXO

Legal & General Group Plc decreased its position in QXO, Inc. (NYSE:QXO) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510,635 shares of the company’s stock after selling 58,282 shares during the quarter. Legal & General Group Plc’s holdings in QXO were worth $9,850,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fred Alger Management LLC bought a new stake in shares of QXO in the 3rd quarter worth $173,053,000. Fishman Jay A Ltd. MI bought a new stake in shares of QXO in the 3rd quarter worth $10,444,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of QXO by 748.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after acquiring an additional 774,138 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after acquiring an additional 14,644,305 shares in the last quarter. Finally, JNBA Financial Advisors bought a new stake in shares of QXO in the 4th quarter worth $992,000. Institutional investors own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on QXO shares. Weiss Ratings reiterated a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Stephens reduced their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada reduced their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Oppenheimer upped their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded shares of QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Sixteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

QXO Price Performance

QXO opened at $16.17 on Friday. The firm has a market cap of $11.73 billion, a P/E ratio of -17.76, a PEG ratio of 4.22 and a beta of 2.30. The firm has a 50-day moving average of $19.25 and a 200 day moving average of $21.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. QXO, Inc. has a fifty-two week low of $15.50 and a fifty-two week high of $27.61.

QXO (NYSE:QXO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The business’s quarterly revenue was up 12716.3% compared to the same quarter last year. On average, research analysts expect that QXO, Inc. will post 0.2 EPS for the current year.

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.