Fiduciary Alliance LLC Buys Shares of 41,420 QXO, Inc. $QXO

Key Points

• Fiduciary Alliance LLC acquired 41,420 shares of QXO, Inc., valued at approximately $892,000, during the 2nd quarter of the year.
• Institutional investors, including Bank of America and Janus Henderson, have significantly increased their stakes in QXO, which now have 58.68% ownership of the company's stock.
• QXO stock has received mixed analyst ratings, with a consensus rating of Buy and a price target averaging $33.73.

Fiduciary Alliance LLC purchased a new stake in QXO, Inc. (NASDAQ:QXO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 41,420 shares of the company's stock, valued at approximately $892,000.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in QXO during the first quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in shares of QXO in the first quarter valued at approximately $27,000. CWM LLC bought a new position in QXO in the 1st quarter worth approximately $27,000. First Horizon Advisors Inc. raised its position in QXO by 57.4% in the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Signaturefd LLC raised its position in QXO by 533.6% in the 1st quarter. Signaturefd LLC now owns 3,168 shares of the company's stock worth $43,000 after purchasing an additional 2,668 shares during the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Stock Performance

Shares of NASDAQ QXO traded down $0.39 during trading hours on Friday, hitting $20.63. 13,214,335 shares of the stock were exchanged, compared to its average volume of 6,110,185. The company has a market cap of $13.90 billion, a PE ratio of -2.26, a price-to-earnings-growth ratio of 4.09 and a beta of 2.35. The company's fifty day simple moving average is $20.77 and its two-hundred day simple moving average is $17.84. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $24.69.

Analyst Ratings Changes

A number of research firms have commented on QXO. Truist Financial started coverage on shares of QXO in a report on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price for the company. Oppenheimer started coverage on shares of QXO in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 target price for the company. Citigroup began coverage on shares of QXO in a research report on Wednesday, July 16th. They set a "buy" rating and a $33.00 price target on the stock. Stephens began coverage on shares of QXO in a report on Wednesday, August 13th. They issued an "overweight" rating and a $29.00 target price on the stock. Finally, Zacks Research cut shares of QXO from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, QXO presently has a consensus rating of "Buy" and a consensus price target of $33.73.

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.