Impax Asset Management Group plc Acquires New Shares in QXO, Inc. $QXO

Key Points

• Impax Asset Management Group plc bought a new position of 1,256,785 shares of QXO (about $24.24 million), representing roughly 0.19% of the company at quarter-end.
• Several large institutional moves were notable: Baillie Gifford added ~14.6M shares (now 14.7M shares), and Vanguard holds 55.3M shares (~$1.05B); overall institutional ownership stands at 58.68%.
• Analysts are mixed but leaning positive with a MarketBeat consensus of Moderate Buy and a consensus price target of $32.40, alongside recent downgrades and target adjustments (e.g., RBC cut its target to $28 while BNP Paribas Exane initiated coverage at $30/outperform).

Impax Asset Management Group plc bought a new position in shares of QXO, Inc. (NYSE:QXO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,256,785 shares of the company's stock, valued at approximately $24,243,000. Impax Asset Management Group plc owned approximately 0.19% of QXO at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in QXO. Baillie Gifford & Co. increased its holdings in QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company's stock worth $284,241,000 after purchasing an additional 14,644,305 shares in the last quarter. MTCO Ltd. bought a new position in QXO during the 3rd quarter worth about $208,534,000. Fred Alger Management LLC bought a new position in QXO during the 3rd quarter worth about $173,053,000. Schf GPE LLC increased its holdings in QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company's stock worth $286,901,000 after purchasing an additional 8,943,089 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in QXO by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company's stock worth $1,054,471,000 after purchasing an additional 8,131,331 shares in the last quarter. Institutional investors own 58.68% of the company's stock.

Analyst Upgrades and Downgrades

QXO has been the subject of a number of research reports. Benchmark reiterated a "buy" rating on shares of QXO in a report on Friday, February 20th. Wall Street Zen cut QXO from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Weiss Ratings reiterated a "sell (d+)" rating on shares of QXO in a report on Monday, December 29th. Royal Bank Of Canada lowered their target price on QXO from $30.00 to $28.00 and set an "outperform" rating for the company in a report on Monday, April 6th. Finally, BNP Paribas Exane assumed coverage on QXO in a report on Monday, March 16th. They issued an "outperform" rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.40.

QXO Price Performance

Shares of NYSE QXO opened at $20.98 on Friday. The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of -35.55, a PEG ratio of 3.45 and a beta of 2.50. The business has a 50-day moving average of $21.93 and a 200-day moving average of $21.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. QXO, Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $27.61.

QXO (NYSE:QXO - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO's quarterly revenue was up 14725.0% compared to the same quarter last year. As a group, sell-side analysts predict that QXO, Inc. will post 0.32 earnings per share for the current fiscal year.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.

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