Carnegie Investment Counsel Acquires 86,265 Shares of QXO, Inc. $QXO

Key Points

• Carnegie Investment Counsel increased its QXO stake by 38.6% in the first quarter, buying 86,265 additional shares and bringing its total holding to 309,644 shares worth about $6.0 million.
• QXO shares were trading around $15.02, near the lower end of their 52-week range, with the stock showing a market cap of $10.89 billion and a beta of 2.23.
• The company recently reported quarterly EPS of -$0.12, missing estimates, while revenue matched expectations at $1.73 billion; analysts still generally view the stock favorably with a Moderate Buy consensus and an average price target of $30.79.

Carnegie Investment Counsel boosted its stake in shares of QXO, Inc. (NYSE:QXO - Free Report) by 38.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 309,644 shares of the company's stock after buying an additional 86,265 shares during the period. Carnegie Investment Counsel's holdings in QXO were worth $6,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. grew its position in shares of QXO by 6.8% in the 4th quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company's stock worth $122,000 after buying an additional 400 shares during the last quarter. Cherry Creek Investment Advisors Inc. lifted its position in QXO by 0.6% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company's stock valued at $1,633,000 after acquiring an additional 474 shares during the last quarter. NewEdge Advisors LLC lifted its position in QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company's stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Maple Capital Management Inc. boosted its stake in QXO by 4.7% in the fourth quarter. Maple Capital Management Inc. now owns 11,988 shares of the company's stock valued at $231,000 after acquiring an additional 543 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in QXO by 27.2% in the fourth quarter. Allworth Financial LP now owns 2,580 shares of the company's stock valued at $50,000 after acquiring an additional 552 shares in the last quarter. Institutional investors own 58.68% of the company's stock.

QXO Stock Up 0.2%

QXO stock opened at $15.02 on Monday. The business's 50-day simple moving average is $16.91 and its two-hundred day simple moving average is $20.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. The company has a market cap of $10.89 billion, a PE ratio of -16.50, a PEG ratio of 3.84 and a beta of 2.23. QXO, Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $27.61.

QXO (NYSE:QXO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) 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 firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.73 billion. The business's revenue for the quarter was up 12716.3% compared to the same quarter last year. Equities analysts anticipate that QXO, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

QXO has been the topic of several research analyst reports. Oppenheimer boosted their target price on QXO from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Stephens decreased their price target on QXO from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, May 14th. BNP Paribas Exane began coverage on shares of QXO in a research report on Monday, March 16th. They issued an "outperform" rating and a $30.00 price objective for the company. Wall Street Zen upgraded shares of QXO from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 17th. Finally, Robert W. Baird dropped their target price on shares of QXO from $35.00 to $30.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Fifteen analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, QXO presently has an average rating of "Moderate Buy" and a consensus price target of $30.79.

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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