27,045 Shares in QXO, Inc. $QXO Acquired by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System acquired 27,045 shares of QXO, Inc., valued at approximately $583,000.
• Analysts have issued positive ratings for QXO, with target prices set as high as $33.00, indicating strong investor interest.
• In its latest quarterly earnings report, QXO topped earnings estimates, reporting $0.11 earnings per share against the expected $0.04.

Maryland State Retirement & Pension System purchased a new position in shares of QXO, Inc. (NYSE:QXO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,045 shares of the company's stock, valued at approximately $583,000.

A number of other large investors have also added to or reduced their stakes in QXO. Vanguard Group Inc. boosted its holdings in shares of QXO by 146.1% in the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock valued at $334,539,000 after purchasing an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new stake in shares of QXO during the 1st quarter valued at $118,142,000. Catawba River Capital acquired a new stake in shares of QXO during the 1st quarter valued at $6,635,000. Pacer Advisors Inc. acquired a new stake in shares of QXO during the 1st quarter valued at $6,534,000. Finally, Public Employees Retirement System of Ohio bought a new position in QXO during the 2nd quarter worth $3,980,000. Institutional investors and hedge funds own 58.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on QXO shares. Benchmark raised QXO to a "strong-buy" rating in a research report on Monday, August 25th. Raymond James Financial started coverage on QXO in a research note on Friday, September 5th. They issued an "outperform" rating and a $28.00 target price for the company. Royal Bank Of Canada started coverage on QXO in a report on Monday, July 21st. They set an "outperform" rating and a $33.00 price objective for the company. William Blair assumed coverage on QXO in a report on Wednesday, June 18th. They set an "outperform" rating for the company. Finally, Citigroup assumed coverage on QXO in a research note on Wednesday, July 16th. They issued a "buy" rating and a $33.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.08.

QXO Trading Down 0.3%

QXO stock opened at $18.52 on Tuesday. The stock has a market cap of $12.47 billion, a P/E ratio of -88.16, a PEG ratio of 2.59 and a beta of 2.25. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $24.69. The firm's fifty day moving average price is $20.16 and its 200-day moving average price is $18.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00.

QXO (NYSE:QXO - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.87 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. Equities research analysts forecast that QXO, Inc. will post -0.13 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.

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