Great Hill Capital LLC Grows Position in QXO, Inc. $QXO

Key Points

• Great Hill Capital LLC boosted its stake in QXO by 25.2% in Q4 to 341,307 shares (worth $6.584 million), making it the firm's 15th-largest position and representing 0.05% of QXO.
• Other institutions piled in as well—Baillie Gifford now owns about 14.74 million shares after a massive increase and Vanguard holds 55.32 million shares (~$1.05 billion); institutional investors collectively own 58.68% of QXO.
• Analysts have a consensus "Moderate Buy" rating with a $32.13 price target; QXO last reported a $0.02 EPS (missing estimates), and the stock trades near $23.19 with a $16.46 billion market cap.

Great Hill Capital LLC raised its holdings in QXO, Inc. (NYSE:QXO - Free Report) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,307 shares of the company's stock after purchasing an additional 68,631 shares during the period. QXO accounts for about 0.7% of Great Hill Capital LLC's holdings, making the stock its 15th biggest position. Great Hill Capital LLC owned 0.05% of QXO worth $6,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Baillie Gifford & Co. boosted its holdings in QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company's stock worth $284,241,000 after buying an additional 14,644,305 shares during the period. MTCO Ltd. bought a new stake in QXO during the 3rd quarter valued at $208,534,000. Fred Alger Management LLC bought a new stake in QXO during the 3rd quarter valued at $173,053,000. Schf GPE LLC lifted its position in shares of QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company's stock worth $286,901,000 after acquiring an additional 8,943,089 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of QXO by 17.2% during the third quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company's stock worth $1,054,471,000 after acquiring an additional 8,131,331 shares in the last quarter. Institutional investors own 58.68% of the company's stock.

Analyst Ratings Changes

QXO has been the subject of several recent research reports. Citigroup reduced their price target on QXO from $33.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. BNP Paribas Exane started coverage on QXO in a research note on Monday, March 16th. They issued an "outperform" rating and a $30.00 target price for the company. Oppenheimer lifted their target price on QXO from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, January 16th. William Blair reissued an "outperform" rating on shares of QXO in a report on Wednesday, December 31st. Finally, Wall Street Zen lowered shares of QXO from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.13.

QXO Trading Down 0.7%

Shares of QXO stock opened at $23.19 on Thursday. The company has a market capitalization of $16.46 billion, a PE ratio of -39.30, a price-to-earnings-growth ratio of 3.62 and a beta of 2.50. QXO, Inc. has a 52-week low of $11.97 and a 52-week high of $27.61. The business's fifty day moving average is $22.14 and its 200 day moving average is $20.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58.

QXO (NYSE:QXO - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 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 business's revenue for the quarter was up 14725.0% compared to the same quarter last year. On average, equities research analysts anticipate that QXO, Inc. will post -0.13 EPS 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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