First Eagle Investment Management LLC Has $3.80 Million Stock Holdings in QXO, Inc. $QXO

Key Points

• First Eagle Investment Management boosted its stake in QXO by 42.0% in Q3, buying 59,055 shares to own 199,500 shares worth about $3.80 million.
• Analyst sentiment is mixed but tilted positive—MarketBeat shows an average rating of “Moderate Buy” with an average target price of $32.43 (1 Strong Buy, 14 Buy, 1 Hold, 1 Sell).
• QXO recently missed quarterly EPS ($0.02 vs. $0.03 estimate) while reporting $2.19B in revenue; the stock trades at a negative P/E (−39.41), opened at $23.25, and analysts project about −$0.13 EPS for the current fiscal year.

First Eagle Investment Management LLC lifted its holdings in QXO, Inc. (NYSE:QXO - Free Report) by 42.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 199,500 shares of the company's stock after purchasing an additional 59,055 shares during the period. First Eagle Investment Management LLC's holdings in QXO were worth $3,802,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in shares of QXO by 1,740.9% during the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company's stock worth $26,000 after buying an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in QXO in the second quarter worth $28,000. Bogart Wealth LLC bought a new position in shares of QXO during the 3rd quarter worth about $25,000. Russell Investments Group Ltd. acquired a new stake in QXO during the second quarter valued at approximately $30,000. Finally, GAMMA Investing LLC acquired a new stake in QXO in the 3rd quarter valued at $31,000. Institutional investors own 58.68% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup reduced their price target on shares of QXO from $33.00 to $31.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. Benchmark reiterated a "buy" rating on shares of QXO in a report on Friday, February 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of QXO in a research note on Monday, December 29th. William Blair restated an "outperform" rating on shares of QXO in a research report on Wednesday, December 31st. Finally, Wall Street Zen lowered shares of QXO from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $32.43.

QXO Price Performance

Shares of NYSE QXO opened at $23.25 on Thursday. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of -39.41, a PEG ratio of 2.99 and a beta of 2.51. QXO, Inc. has a fifty-two week low of $11.97 and a fifty-two week high of $27.61. The business has a 50-day moving average of $23.67 and a 200-day moving average of $20.98. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.24.

QXO (NYSE:QXO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.19 billion. The company's quarterly revenue was up 14725.0% on a year-over-year basis. As a group, sell-side analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

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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