QXO, Inc. $QXO Shares Purchased by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in QXO, Inc. by 28.3%, acquiring an additional 50,088 shares to total 227,210 shares, valued at approximately $3.08 million.
• QXO's stock has seen a 12-month range between $11.85 and $24.69, currently trading at $18.8480, and has a market capitalization of $10.94 billion.
• Analysts are optimistic about QXO, with a consensus rating of "Buy" and an average price target of $32.25, reflecting the interest from multiple research firms offering favorable ratings.

HighTower Advisors LLC increased its holdings in QXO, Inc. (NASDAQ:QXO - Free Report) by 28.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,210 shares of the company's stock after purchasing an additional 50,088 shares during the period. HighTower Advisors LLC owned 0.05% of QXO worth $3,076,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Affinity Partners GP LP acquired a new stake in QXO in the 4th quarter worth about $260,941,000. Vanguard Group Inc. boosted its position in shares of QXO by 146.1% in the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock worth $334,539,000 after acquiring an additional 14,667,571 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in QXO in the fourth quarter valued at approximately $9,796,000. Barrier Capital Management LLC increased its position in QXO by 94.0% during the fourth quarter. Barrier Capital Management LLC now owns 1,227,411 shares of the company's stock worth $19,516,000 after purchasing an additional 594,604 shares during the last quarter. Finally, Catawba River Capital acquired a new position in QXO during the first quarter worth approximately $6,635,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Robert W. Baird assumed coverage on shares of QXO in a research note on Thursday, June 12th. They set an "outperform" rating and a $32.00 price objective for the company. Citigroup initiated coverage on QXO in a report on Wednesday, July 16th. They issued a "buy" rating and a $33.00 target price on the stock. Baird R W upgraded QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Benchmark assumed coverage on QXO in a report on Friday. They issued a "buy" rating and a $50.00 price objective on the stock. Finally, Wolfe Research began coverage on QXO in a report on Friday, June 6th. They set an "outperform" rating and a $44.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $34.22.

QXO Stock Performance

Shares of QXO stock traded up $1.5550 during trading hours on Friday, reaching $20.3750. The company had a trading volume of 14,481,436 shares, compared to its average volume of 5,897,078. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $24.69. The company has a market capitalization of $13.72 billion, a P/E ratio of -2.23, a price-to-earnings-growth ratio of 4.09 and a beta of 2.34. The stock's fifty day simple moving average is $21.10 and its 200 day simple moving average is $16.74.

QXO Company 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.