Hudson Value Partners LLC Buys New Position in QXO, Inc. $QXO

Key Points

• Hudson Value Partners LLC acquired 75,560 shares of QXO, Inc., valued at approximately $1.6 million, indicating institutional interest in the stock.
• Vanguard Group Inc. notably increased its holdings in QXO by 146.1%, now owning over 24.7 million shares worth approximately $334.5 million.
• QXO's stock has recently seen analyst upgrades, with price targets ranging from $30 to $33.25, reflecting positive market sentiment.

Hudson Value Partners LLC purchased a new position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,560 shares of the company's stock, valued at approximately $1,628,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 valued at $334,539,000 after purchasing an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new position in QXO in the 1st quarter valued at approximately $118,142,000. Massachusetts Financial Services Co. MA grew its stake in shares of QXO by 0.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company's stock worth $25,535,000 after acquiring an additional 8,322 shares in the last quarter. Northern Trust Corp increased its position in shares of QXO by 13.4% during the first quarter. Northern Trust Corp now owns 829,496 shares of the company's stock worth $11,231,000 after acquiring an additional 97,886 shares during the period. Finally, Amundi raised its stake in shares of QXO by 26.4% in the first quarter. Amundi now owns 715,087 shares of the company's stock valued at $9,861,000 after acquiring an additional 149,504 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company's stock.

QXO Stock Down 1.9%

QXO stock opened at $18.70 on Thursday. The business has a 50 day moving average price of $20.37 and a 200 day moving average price of $18.14. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of -2.05, a PEG ratio of 4.09 and a beta of 2.35. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $24.69.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Robert W. Baird initiated coverage on QXO in a research note on Thursday, June 12th. They set an "outperform" rating and a $32.00 target price for the company. Citigroup initiated coverage on QXO in a research note on Wednesday, July 16th. They issued a "buy" rating and a $33.00 price objective for the company. Truist Financial started coverage on shares of QXO in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price on the stock. Baird R W raised shares of QXO to a "strong-buy" rating in a report on Thursday, June 12th. Finally, Wells Fargo & Company initiated coverage on shares of QXO in a research note on Tuesday, August 5th. They issued an "overweight" rating and a $30.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, QXO presently has an average rating of "Buy" and a consensus price target of $33.25.

About QXO

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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