QXO, Inc. $QXO Shares Purchased by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. boosted its holdings in QXO, Inc. (NYSE:QXO) by 54.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,096,918 shares of the company’s stock after acquiring an additional 737,275 shares during the period. Epoch Investment Partners Inc. owned about 0.29% of QXO worth $40,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Carnegie Investment Counsel boosted its position in QXO by 38.6% during the 1st quarter. Carnegie Investment Counsel now owns 309,644 shares of the company’s stock valued at $6,013,000 after purchasing an additional 86,265 shares during the period. CI Investments Inc. increased its position in QXO by 4.1% in the first quarter. CI Investments Inc. now owns 2,598,840 shares of the company’s stock worth $50,469,000 after buying an additional 102,838 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in QXO by 748.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after buying an additional 774,138 shares during the period. Baillie Gifford & Co. lifted its stake in QXO by 16,117.6% in the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after buying an additional 14,644,305 shares during the last quarter. Finally, JNBA Financial Advisors bought a new stake in QXO in the fourth quarter valued at $992,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QXO has been the subject of several recent research reports. KeyCorp lowered their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Citigroup reduced their target price on shares of QXO from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, July 13th. 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 note on Wednesday, May 13th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Oppenheimer increased their price objective on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Fifteen equities 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 currently has an average rating of “Moderate Buy” and an average target price of $30.57.

QXO Stock Performance

QXO stock opened at $13.71 on Friday. The company has a 50-day simple moving average of $16.09 and a 200 day simple moving average of $20.01. The company has a market capitalization of $9.94 billion, a P/E ratio of -15.06, a PEG ratio of 3.51 and a beta of 2.23. 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, Inc. has a fifty-two week low of $13.32 and a fifty-two week high of $27.61.

QXO (NYSE:QXO) last released its 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). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. QXO’s revenue for the quarter was up 12716.3% on a year-over-year basis. Sell-side analysts predict 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.