Rockefeller Capital Management L.P. Acquires 33,469 Shares of QXO, Inc. $QXO

Rockefeller Capital Management L.P. lifted its holdings in QXO, Inc. (NYSE:QXO) by 38.3% in the 4th quarter, Holdings Channel reports. The firm owned 120,928 shares of the company’s stock after buying an additional 33,469 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in QXO were worth $2,333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Finepoint Capital LP boosted its holdings in QXO by 5.4% in the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company’s stock worth $424,954,000 after purchasing an additional 1,142,747 shares in the last quarter. Fred Alger Management LLC raised its holdings in QXO by 75.4% during the fourth quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company’s stock valued at $307,173,000 after buying an additional 6,844,574 shares in the last quarter. Baillie Gifford & Co. lifted its position 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 lifted its position in shares of QXO by 204.3% in 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, MTCO Ltd. bought a new stake in shares of QXO during the 3rd quarter worth about $208,534,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QXO. KeyCorp increased their price objective on QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Royal Bank Of Canada reduced their target price on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Robert W. Baird dropped their price target on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, Oppenheimer lifted their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.14.

QXO Stock Performance

QXO opened at $17.69 on Tuesday. 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 stock’s 50 day moving average price is $17.98 and its two-hundred day moving average price is $20.84. The firm has a market capitalization of $12.83 billion, a P/E ratio of -19.44, a price-to-earnings-growth ratio of 4.56 and a beta of 2.30. QXO, Inc. has a 12-month low of $14.75 and a 12-month high of $27.61.

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