490,052 Shares in QXO, Inc. (NASDAQ:QXO) Acquired by Catawba River Capital

Catawba River Capital purchased a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 490,052 shares of the company's stock, valued at approximately $6,635,000. QXO comprises about 4.0% of Catawba River Capital's investment portfolio, making the stock its 11th biggest position. Catawba River Capital owned 0.11% of QXO as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers boosted its position in QXO by 337.5% during the 4th quarter. Rhumbline Advisers now owns 21,000 shares of the company's stock worth $334,000 after buying an additional 16,200 shares during the period. Bank of New York Mellon Corp increased its stake in QXO by 685.6% during the 4th quarter. Bank of New York Mellon Corp now owns 450,467 shares of the company's stock valued at $7,162,000 after purchasing an additional 393,126 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in QXO by 67.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 84,945 shares of the company's stock valued at $1,351,000 after purchasing an additional 34,300 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in QXO by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,544,224 shares of the company's stock valued at $24,553,000 after purchasing an additional 14,073 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in QXO during the 4th quarter valued at $2,711,000. 58.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Robert W. Baird assumed coverage on shares of QXO in a research note on Thursday, June 12th. They set an "outperform" rating and a $32.00 price target for the company. Baird R W upgraded shares of QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Wolfe Research assumed coverage on shares of QXO in a research note on Friday, June 6th. They set an "outperform" rating and a $44.00 price target for the company. Truist Financial began coverage on shares of QXO in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target for the company. Finally, William Blair began coverage on shares of QXO in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $33.25.

QXO Price Performance

QXO traded down $0.04 during trading on Tuesday, hitting $21.64. 5,274,826 shares of the stock traded hands, compared to its average volume of 4,038,382. The firm has a market capitalization of $12.56 billion, a P/E ratio of -2.37, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41. The firm has a 50-day moving average of $18.19 and a 200 day moving average of $15.31. QXO, Inc. has a 12-month low of $10.61 and a 12-month high of $157.28.

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.