Great Hill Capital LLC Acquires 232,126 Shares of QXO, Inc. $QXO

Key Points

• Great Hill Capital increased its QXO stake by 44.6% in the third quarter, acquiring 232,126 additional shares and bringing its holdings to 753,004 shares valued at approximately $8.8 million.
• Other institutional investors also built positions in QXO, with institutional ownership reaching 58.68% of the company’s stock.
• QXO shares opened at $10.47, near their 52-week low, while analysts maintain a “Moderate Buy” consensus with an average price target of $24.77.

Great Hill Capital LLC boosted its holdings in QXO, Inc. (NYSE:QXO - Free Report) by 44.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 753,004 shares of the company's stock after acquiring an additional 232,126 shares during the quarter. QXO accounts for about 0.5% of Great Hill Capital LLC's investment portfolio, making the stock its 14th biggest position. Great Hill Capital LLC owned about 0.07% of QXO worth $8,803,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Net Worth Advisory Group acquired a new position in QXO in the third quarter worth about $172,000. James Hambro & Partners LLP acquired a new stake in QXO during the third quarter valued at approximately $6,398,000. Herold Advisors Inc. bought a new stake in shares of QXO in the 3rd quarter valued at approximately $160,000. LexAurum Advisors LLC grew its stake in shares of QXO by 65.3% in the 3rd quarter. LexAurum Advisors LLC now owns 28,524 shares of the company's stock valued at $333,000 after purchasing an additional 11,273 shares during the period. Finally, First Bank & Trust grew its stake in shares of QXO by 28.0% in the 3rd quarter. First Bank & Trust now owns 19,262 shares of the company's stock valued at $225,000 after purchasing an additional 4,215 shares during the period. Institutional investors own 58.68% of the company's stock.

QXO Stock Up 3.3%

NYSE QXO opened at $10.47 on Wednesday. The stock has a market capitalization of $10.87 billion, a P/E ratio of 84.50, a price-to-earnings-growth ratio of 2.13 and a beta of 2.30. QXO, Inc. has a 52 week low of $10.03 and a 52 week high of $27.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. The stock has a fifty day moving average of $12.47 and a 200-day moving average of $15.60.

QXO (NYSE:QXO - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%. On average, equities research analysts forecast that QXO, Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QXO. Benchmark reissued a "buy" rating on shares of QXO in a report on Friday, August 14th. Zacks Research raised QXO from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Wall Street Zen raised QXO from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 25th. KeyCorp lowered their price target on QXO from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 1st. Finally, Melius Research initiated coverage on QXO in a research note on Tuesday, October 6th. They set a "buy" rating and a $17.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, QXO has an average rating of "Moderate Buy" and an average price target of $24.77.

QXO Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO's strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.

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