Amundi Has $24.55 Million Stock Position in QXO, Inc. $QXO

Key Points

• Amundi increased its QXO stake by 11.3% in the first quarter, holding 1.26 million shares valued at approximately $24.55 million, or 0.17% of the company.
• Institutional interest remains substantial, with hedge funds and other investors making large purchases; institutional investors collectively own 58.68% of QXO.
• QXO’s latest quarterly results missed earnings expectations, reporting a loss of $0.12 per share versus a projected loss of $0.09, while revenue reached $1.73 billion. Despite the miss, analysts maintain a “Moderate Buy” consensus with an average price target of $29.71.

Amundi lifted its stake in QXO, Inc. (NYSE:QXO - Free Report) by 11.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,264,434 shares of the company's stock after purchasing an additional 127,933 shares during the period. Amundi owned 0.17% of QXO worth $24,555,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in QXO. Baillie Gifford & Co. raised its position in shares of QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company's stock valued at $284,241,000 after acquiring an additional 14,644,305 shares during the period. Schf GPE LLC boosted its position in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company's stock worth $286,901,000 after purchasing an additional 8,943,089 shares in the last quarter. Norges Bank acquired a new position in shares of QXO in the 4th quarter valued at $140,421,000. Fred Alger Management LLC grew its holdings in shares of QXO by 75.4% in the 4th quarter. Fred Alger Management LLC now owns 15,923,937 shares of the company's stock valued at $307,173,000 after buying an additional 6,844,574 shares during the period. Finally, Sound Shore Management Inc. CT bought a new stake in shares of QXO in the 4th quarter valued at $77,199,000. Institutional investors and hedge funds own 58.68% of the company's stock.

QXO Trading Up 5.8%

NYSE:QXO opened at $14.08 on Tuesday. QXO, Inc. has a twelve month low of $13.18 and a twelve month high of $27.61. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $15.74 and a two-hundred day moving average price of $19.54. The company has a market cap of $14.60 billion, a P/E ratio of -15.47, a price-to-earnings-growth ratio of 2.38 and a beta of 2.28.

QXO (NYSE:QXO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. The firm's quarterly revenue was up 12716.3% on a year-over-year basis. As a group, analysts expect that QXO, Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Robert W. Baird dropped their price objective on QXO from $35.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Citigroup decreased their target price on QXO from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Stephens lowered their price target on QXO from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, May 14th. Zacks Research raised QXO from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $27.00 price objective on shares of QXO in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.71.

QXO 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.

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