Hohimer Wealth Management LLC Buys 242,127 Shares of QXO, Inc. $QXO

Key Points

• Hohimer Wealth Management increased its QXO stake by 206.1% in the third quarter, buying 242,127 shares to reach 359,607 shares valued at about $4.2 million.
• Institutional investors own 58.68% of QXO. Shares opened at $11.59, well below the stock’s 52-week high of $27.61.
• QXO reported quarterly earnings of $0.08 per share, matching estimates, and revenue of $3.25 billion, topping forecasts. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $24.77.

Hohimer Wealth Management LLC grew its stake in shares of QXO, Inc. (NYSE:QXO - Free Report) by 206.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 359,607 shares of the company's stock after buying an additional 242,127 shares during the period. Hohimer Wealth Management LLC's holdings in QXO were worth $4,204,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in QXO. Center for Financial Planning Inc. purchased a new position in shares of QXO in the 3rd quarter worth $26,000. Signaturefd LLC boosted its holdings in QXO by 166.6% in the third quarter. Signaturefd LLC now owns 2,973 shares of the company's stock valued at $35,000 after acquiring an additional 1,858 shares during the last quarter. MADDEN SECURITIES Corp acquired a new position in QXO in the third quarter valued at $36,000. Root Financial Partners LLC acquired a new position in QXO in the third quarter valued at $37,000. Finally, Heritage Family Offices LLP purchased a new stake in QXO during the third quarter valued at about $39,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Performance

Shares of QXO stock opened at $11.59 on Monday. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66. The company has a market cap of $12.02 billion, a PE ratio of -12.87, a P/E/G ratio of 2.58 and a beta of 2.42. The company's fifty day simple moving average is $11.74 and its 200-day simple moving average is $17.02. QXO, Inc. has a 52 week low of $10.03 and a 52 week high of $27.61.

QXO (NYSE:QXO - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The firm had revenue of $3.25 billion during the quarter, compared to analysts' expectations of $3.18 billion. As a group, equities research analysts anticipate that QXO, Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

QXO has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on QXO from $16.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. Royal Bank Of Canada cut their price objective on QXO from $27.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, October 7th. Benchmark reaffirmed a "buy" rating on shares of QXO in a research note on Friday, August 14th. Melius Research assumed coverage on QXO in a report on Tuesday, October 6th. They set a "buy" rating and a $17.00 target price for the company. Finally, DA Davidson set a $20.00 target price on QXO in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.77.

QXO Company Profile

QXO, Inc is a distributor of building products serving contractors and other customers in the construction industry. Its offerings include roofing materials, waterproofing products and complementary building supplies for residential and commercial projects.

QXO expanded its business through its acquisition of Beacon Roofing Supply in 2025, bringing Beacon's distribution network and product expertise into the company. Beacon serves customers across the United States and Canada.

QXO is led by Chairman and Chief Executive Officer Brad Jacobs, an entrepreneur whose previous leadership roles include executive positions at XPO and United Rentals.

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