Fort Washington Investment Advisors Inc. OH Makes New Investment in QXO, Inc. $QXO

Fort Washington Investment Advisors Inc. OH purchased a new position in shares of QXO, Inc. (NYSE:QXO) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 737,718 shares of the company’s stock, valued at approximately $14,326,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. lifted 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 valued at $284,241,000 after purchasing an additional 14,644,305 shares during the last quarter. MTCO Ltd. bought a new stake in QXO in the third quarter worth $208,534,000. Fred Alger Management LLC bought a new stake in QXO in the third quarter worth $173,053,000. Schf GPE LLC increased its position in QXO by 204.3% during the second 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 last quarter. Finally, Norges Bank acquired a new position in QXO during the fourth quarter worth $140,421,000. Institutional investors own 58.68% of the company’s stock.

QXO Stock Down 0.3%

Shares of QXO stock opened at $17.73 on Monday. QXO, Inc. has a 12 month low of $14.75 and a 12 month high of $27.61. The firm has a market cap of $12.86 billion, a PE ratio of -19.49, a price-to-earnings-growth ratio of 4.56 and a beta of 2.30. The stock has a 50 day moving average of $18.11 and a 200-day moving average of $20.86. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.

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

Analysts Set New Price Targets

A number of analysts have weighed in on QXO shares. Citigroup reduced their price target on QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Oppenheimer raised their price objective on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Finally, KeyCorp upped their target price on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.14.

QXO Company 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.