20,200 Shares in QXO, Inc. (NASDAQ:QXO) Bought by Costello Asset Management INC

Key Points

• Costello Asset Management INC has made a new investment in QXO, Inc. amounting to approximately $274,000 by acquiring 20,200 shares in the first quarter.
• Several institutional investors have also increased their positions in QXO, with 58.68% of the stock owned by these investors, indicating strong interest in the company.
• QXO has received favorable ratings from analysts, with a consensus target price of $33.17 and multiple firms setting “outperform” or “buy” ratings on the stock.

Costello Asset Management INC bought a new position in QXO, Inc. (NASDAQ:QXO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,200 shares of the company's stock, valued at approximately $274,000.

A number of other hedge funds have also made changes to their positions in QXO. First Horizon Advisors Inc. raised its stake in shares of QXO by 57.4% in the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after acquiring an additional 1,017 shares during the last quarter. Larson Financial Group LLC bought a new position in QXO in the 1st quarter worth approximately $26,000. Lewis Asset Management LLC lifted its holdings in QXO by 18.3% during the 1st quarter. Lewis Asset Management LLC now owns 12,900 shares of the company's stock worth $175,000 after buying an additional 2,000 shares in the last quarter. Ridgewood Investments LLC acquired a new position in QXO during the 1st quarter worth $27,000. Finally, CWM LLC bought a new position in QXO in the 1st quarter valued at $27,000. Institutional investors and hedge funds own 58.68% of the company's stock.

QXO Trading Up 1.3%

Shares of NASDAQ:QXO traded up $0.25 during mid-day trading on Thursday, reaching $19.40. The stock had a trading volume of 5,708,044 shares, compared to its average volume of 5,719,260. The firm has a 50 day simple moving average of $20.76 and a two-hundred day simple moving average of $16.21. QXO, Inc. has a twelve month low of $10.62 and a twelve month high of $24.69. The firm has a market cap of $11.26 billion, a PE ratio of -2.13, a price-to-earnings-growth ratio of 4.09 and a beta of 2.34.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. William Blair started coverage on QXO in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. Wolfe Research started coverage on shares of QXO in a research report on Friday, June 6th. They set an "outperform" rating and a $44.00 target price on the stock. Oppenheimer assumed coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 target price on the stock. Royal Bank Of Canada initiated coverage on shares of QXO in a research report on Monday, July 21st. They set an "outperform" rating and a $33.00 price target for the company. Finally, Robert W. Baird assumed coverage on shares of QXO in a report on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QXO has a consensus rating of "Buy" and a consensus target price of $32.71.

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.