Swedbank AB Takes Position in QXO, Inc. $QXO

Swedbank AB acquired a new stake in QXO, Inc. (NYSE:QXO) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 501,000 shares of the company’s stock, valued at approximately $9,664,000. Swedbank AB owned 0.07% of QXO at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QXO. Royal Bank of Canada boosted its position in shares of QXO by 67.5% in the first quarter. Royal Bank of Canada now owns 119,688 shares of the company’s stock valued at $1,620,000 after acquiring an additional 48,248 shares during the period. AQR Capital Management LLC purchased a new stake in QXO in the first quarter valued at approximately $615,000. Millennium Management LLC raised its stake in QXO by 6.6% in the first quarter. Millennium Management LLC now owns 322,115 shares of the company’s stock valued at $4,361,000 after purchasing an additional 20,067 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in QXO by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 697,889 shares of the company’s stock valued at $9,449,000 after purchasing an additional 81,758 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in QXO in the second quarter valued at approximately $837,000. 58.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on QXO. Stephens lowered their target price on shares of QXO from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, February 20th. Citigroup lowered their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Zacks Research downgraded shares of QXO from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

QXO Trading Up 3.2%

QXO stock opened at $17.21 on Wednesday. The company has a market capitalization of $12.48 billion, a PE ratio of -18.91, a price-to-earnings-growth ratio of 4.27 and a beta of 2.40. QXO, Inc. has a one year low of $15.50 and a one year high of $27.61. The company’s 50 day moving average price is $19.71 and its two-hundred day moving average price is $21.09. 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 (NYSE:QXO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s revenue was up 12716.3% compared to the same quarter last year. As a group, analysts predict that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

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.