HighTower Advisors LLC Has $3.08 Million Stock Position in QXO, Inc. $QXO

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

A number of other hedge funds also recently modified their holdings of QXO. Larson Financial Group LLC acquired a new stake in shares of QXO during the first quarter worth about $26,000. Ridgewood Investments LLC bought a new position in shares of QXO during the first quarter worth about $27,000. CWM LLC bought a new position in shares of QXO during the first quarter worth about $27,000. First Horizon Advisors Inc. grew its holdings in shares of QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after buying an additional 1,017 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of QXO by 533.6% during the first quarter. Signaturefd LLC now owns 3,168 shares of the company's stock worth $43,000 after buying an additional 2,668 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Benchmark upgraded QXO to a "strong-buy" rating in a report on Monday. Zacks Research upgraded QXO from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Wells Fargo & Company assumed coverage on QXO in a report on Tuesday, August 5th. They set an "overweight" rating and a $30.00 price objective for the company. Citigroup assumed coverage on QXO in a report on Wednesday, July 16th. They set a "buy" rating and a $33.00 price objective for the company. Finally, Oppenheimer assumed coverage on QXO in a report on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $34.22.

QXO Trading Down 0.1%

Shares of NASDAQ:QXO traded down $0.02 during trading on Wednesday, hitting $20.91. 6,894,176 shares of the company were exchanged, compared to its average volume of 5,946,712. The stock has a market cap of $14.08 billion, a price-to-earnings ratio of -2.29, a P/E/G ratio of 4.09 and a beta of 2.34. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $24.69. The firm has a fifty day moving average price of $21.10 and a two-hundred day moving average price of $16.85.

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.