470,310 Shares in QXO, Inc. $QXO Purchased by Neville Rodie & Shaw Inc.

Key Points

• Neville Rodie & Shaw Inc. purchased 470,310 QXO shares worth approximately $5.5 million during the third quarter. Institutional investors collectively own 58.68% of the company.
• Analysts maintain a generally positive outlook, with QXO receiving a consensus “Moderate Buy” rating and a $28 target price, despite some recent target-price reductions.
• QXO shares fell 1.0% to $11.94, near their 52-week low. In its latest quarter, the company met expectations with $0.08 in EPS and reported $3.25 billion in revenue, above estimates.

Neville Rodie & Shaw Inc. purchased a new stake in QXO, Inc. (NYSE:QXO - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 470,310 shares of the company's stock, valued at approximately $5,498,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Root Financial Partners LLC lifted its stake in QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company's stock worth $29,000 after purchasing an additional 1,467 shares during the last quarter. Versant Capital Management Inc increased its stake in QXO by 718.7% in the third quarter. Versant Capital Management Inc now owns 3,635 shares of the company's stock valued at $42,000 after purchasing an additional 3,191 shares during the last quarter. NFSG Corp increased its stake in QXO by 39.6% in the first quarter. NFSG Corp now owns 2,198 shares of the company's stock valued at $43,000 after purchasing an additional 623 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in QXO by 12,604.8% during the first quarter. Whipplewood Advisors LLC now owns 2,668 shares of the company's stock worth $52,000 after purchasing an additional 2,647 shares in the last quarter. Finally, Capital Analysts LLC raised its holdings in QXO by 116.2% during the second quarter. Capital Analysts LLC now owns 3,544 shares of the company's stock worth $61,000 after purchasing an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on QXO shares. KeyCorp reduced their target price on QXO from $32.00 to $28.00 and set an "overweight" rating for the company in a report on Wednesday, July 1st. Morgan Stanley started coverage on QXO in a report on Tuesday, August 4th. They issued an "overweight" rating and a $35.00 target price on the stock. Wells Fargo & Company set a $18.00 price target on QXO in a report on Tuesday, July 28th. 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. Finally, Wall Street Zen raised shares of QXO from a "strong sell" rating to a "sell" rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, QXO presently has an average rating of "Moderate Buy" and a consensus target price of $28.00.

QXO Stock Down 1.0%

QXO stock traded down $0.12 during midday trading on Monday, hitting $11.94. 6,524,065 shares of the stock were exchanged, compared to its average volume of 15,721,484. QXO, Inc. has a 1 year low of $11.14 and a 1 year high of $27.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.11 and a quick ratio of 3.29. The firm has a market cap of $12.38 billion, a P/E ratio of -13.26, a P/E/G ratio of 2.19 and a beta of 2.30. The company has a 50 day moving average price of $13.36 and a two-hundred day moving average price of $16.34.

QXO (NYSE:QXO - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting analysts' consensus estimates of $0.08. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. On average, sell-side analysts predict that QXO, Inc. will post 0.28 earnings per share for the current fiscal year.

QXO Company Profile

QXO, Inc is a building products distribution company focused on supplying contractors and other construction professionals. Its product portfolio includes roofing materials, siding, windows, waterproofing products and related exterior building supplies. The company serves residential and commercial construction and repair markets through branch locations, distribution centers and digital ordering channels.

QXO operates through Beacon, a major distributor of roofing and complementary building products in the United States and Canada.

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