TD Asset Management Inc Sells 98,530 Shares of QXO, Inc. $QXO

TD Asset Management Inc lessened its holdings in shares of QXO, Inc. (NYSE:QXO) by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 792,952 shares of the company’s stock after selling 98,530 shares during the period. TD Asset Management Inc owned 0.12% of QXO worth $15,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in QXO. American Capital Advisory LLC grew its holdings in QXO by 258.0% during the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock worth $25,000 after acquiring an additional 841 shares during the last quarter. Bogart Wealth LLC acquired a new position in shares of QXO during the third quarter worth approximately $25,000. Allworth Financial LP increased its holdings in shares of QXO by 1,740.9% in the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after purchasing an additional 1,149 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of QXO in the second quarter valued at approximately $28,000. Finally, Russell Investments Group Ltd. bought a new position in QXO in the 2nd quarter worth approximately $30,000. 58.68% of the stock is owned by institutional investors.

QXO Trading Down 0.0%

QXO opened at $23.88 on Monday. QXO, Inc. has a twelve month low of $11.97 and a twelve month high of $27.61. The firm has a market cap of $16.10 billion, a PE ratio of -40.47, a price-to-earnings-growth ratio of 3.24 and a beta of 2.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.24 and a current ratio of 3.06. The firm’s fifty day moving average is $23.61 and its two-hundred day moving average is $20.94.

QXO (NYSE:QXO) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.19 billion. QXO had a negative net margin of 4.08% and a positive return on equity of 3.59%. The business’s quarterly revenue was up 14725.0% on a year-over-year basis. Equities research analysts anticipate that QXO, Inc. will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

QXO has been the topic of several research reports. Wall Street Zen downgraded QXO from a “hold” rating to a “sell” rating in a report on Saturday. Loop Capital assumed coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective for the company. Oppenheimer lifted their price target on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. William Blair restated an “outperform” rating on shares of QXO in a report on Wednesday, December 31st. Finally, Citigroup lowered their target price on shares of QXO from $33.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and an average target price of $32.43.

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.