Hauser Brothers GmbH Sells 137,000 Shares of QXO, Inc. $QXO

Key Points

• Hauser Brothers GmbH reduced its stake in QXO, Inc. by 54.8%, selling 137,000 shares and now owning 113,000 shares, which represent 1.5% of its portfolio.
• Several institutional investors, including Wells Fargo and Envestnet Asset Management, significantly increased their positions in QXO during the 4th quarter, indicating growing interest in the company.
• Analysts have rated QXO positively, with Zacks changing its rating to "strong-buy" and several others setting target prices ranging from $29.00 to $34.22.

Hauser Brothers GmbH decreased its stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 54.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,000 shares of the company's stock after selling 137,000 shares during the period. QXO makes up 1.5% of Hauser Brothers GmbH's portfolio, making the stock its 8th biggest position. Hauser Brothers GmbH's holdings in QXO were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of QXO. Wells Fargo & Company MN increased its stake in QXO by 277.5% during the 4th quarter. Wells Fargo & Company MN now owns 29,159 shares of the company's stock valued at $464,000 after buying an additional 21,435 shares during the period. Envestnet Asset Management Inc. increased its stake in QXO by 26.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 138,756 shares of the company's stock valued at $2,206,000 after buying an additional 29,311 shares during the period. Invesco Ltd. acquired a new position in QXO during the 4th quarter valued at about $164,000. Raymond James Financial Inc. acquired a new position in QXO during the 4th quarter valued at about $1,235,000. Finally, Barclays PLC acquired a new position in QXO during the 4th quarter valued at about $1,168,000. Institutional investors and hedge funds own 58.68% of the company's stock.

Wall Street Analyst Weigh In

QXO has been the topic of several research analyst reports. Zacks Research raised shares of QXO from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Stephens assumed coverage on shares of QXO in a research note on Wednesday, August 13th. They set an "overweight" rating and a $29.00 target price on the stock. Royal Bank Of Canada assumed coverage on shares of QXO in a research note on Monday, July 21st. They issued an "outperform" rating and a $33.00 price objective on the stock. William Blair assumed coverage on shares of QXO in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Finally, Robert W. Baird assumed coverage on shares of QXO in a research note on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $34.22.

QXO Price Performance

Shares of QXO opened at $20.3750 on Monday. The firm's 50 day moving average is $21.10 and its 200-day moving average is $16.74. The stock has a market capitalization of $13.72 billion, a P/E ratio of -2.23, a P/E/G ratio of 4.09 and a beta of 2.34. QXO, Inc. has a 12-month low of $11.85 and a 12-month high of $24.69.

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.

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