QXO, Inc. $QXO is Consulta Ltd’s 4th Largest Position

Consulta Ltd boosted its stake in QXO, Inc. (NYSE:QXO) by 33.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000,000 shares of the company’s stock after buying an additional 2,500,000 shares during the period. QXO accounts for approximately 9.5% of Consulta Ltd’s portfolio, making the stock its 4th largest position. Consulta Ltd owned 1.48% of QXO worth $192,900,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. EFG International AG purchased a new stake in QXO in the fourth quarter worth about $413,000. Jain Global LLC purchased a new stake in QXO in the fourth quarter worth about $990,000. Hilltop Holdings Inc. lifted its holdings in QXO by 20.7% in the fourth quarter. Hilltop Holdings Inc. now owns 20,879 shares of the company’s stock worth $403,000 after buying an additional 3,585 shares during the period. Samjo Management LLC lifted its holdings in QXO by 11.1% in the fourth quarter. Samjo Management LLC now owns 337,130 shares of the company’s stock worth $6,503,000 after buying an additional 33,565 shares during the period. Finally, Kovack Advisors Inc. increased its stake in shares of QXO by 1,156.4% during the fourth quarter. Kovack Advisors Inc. now owns 127,276 shares of the company’s stock valued at $2,455,000 after purchasing an additional 117,146 shares in the last quarter. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QXO. Citigroup decreased their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a research note on Friday, May 29th. Royal Bank Of Canada decreased 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. Robert W. Baird decreased their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Stephens decreased 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. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, QXO currently has an average rating of “Moderate Buy” and an average target price of $31.14.

QXO Price Performance

Shares of QXO opened at $16.58 on Thursday. The company has a market capitalization of $12.03 billion, a P/E ratio of -18.22, a price-to-earnings-growth ratio of 4.36 and a beta of 2.30. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $18.71 and a 200 day moving average of $20.99. QXO, Inc. has a twelve month low of $14.75 and a twelve month high of $27.61.

QXO (NYSE:QXO) last announced 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 firm 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%. QXO’s quarterly revenue was up 12716.3% compared to the same quarter last year. As a group, equities research analysts anticipate that QXO, Inc. will post 0.2 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.