Mitsubishi UFJ Trust & Banking Corp Makes New $17.69 Million Investment in QXO, Inc. $QXO

Key Points

• Mitsubishi UFJ Trust & Banking Corp purchased 916,907 shares of QXO (about $17.69 million) in Q4 and now owns roughly 0.14% of the company.
• QXO has a market cap of about $14.28 billion
• Analyst sentiment is broadly positive with a consensus rating of “Moderate Buy” and an average price target of about $32.53, driven by multiple Buy/Outperform ratings despite a few downgrades.

Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of QXO, Inc. (NYSE:QXO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 916,907 shares of the company's stock, valued at approximately $17,687,000. Mitsubishi UFJ Trust & Banking Corp owned 0.14% of QXO as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Cherry Creek Investment Advisors Inc. boosted its holdings in shares of QXO by 0.6% during the fourth quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company's stock worth $1,633,000 after purchasing an additional 474 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company's stock valued at $30,000 after purchasing an additional 575 shares during the last quarter. Quest Investment Management LLC boosted its holdings in QXO by 2.0% in the third quarter. Quest Investment Management LLC now owns 34,959 shares of the company's stock worth $666,000 after purchasing an additional 695 shares in the last quarter. First Bank & Trust boosted its holdings in QXO by 4.9% in the fourth quarter. First Bank & Trust now owns 14,963 shares of the company's stock worth $289,000 after purchasing an additional 701 shares in the last quarter. Finally, Allworth Financial LP increased its position in QXO by 66.9% during the third quarter. Allworth Financial LP now owns 2,028 shares of the company's stock worth $39,000 after buying an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company's stock.

QXO Price Performance

Shares of QXO stock opened at $20.12 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. The company has a market cap of $14.28 billion, a PE ratio of -34.10, a price-to-earnings-growth ratio of 3.06 and a beta of 2.50. The firm has a fifty day moving average price of $21.39 and a two-hundred day moving average price of $21.14. QXO, Inc. has a fifty-two week low of $13.09 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 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The company's revenue for the quarter was up 14725.0% compared to the same quarter last year. Analysts expect that QXO, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup reduced their price target on QXO from $33.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. Wall Street Zen downgraded QXO from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Oppenheimer boosted their target price on QXO from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday. KeyCorp increased their price target on QXO from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, April 20th. Finally, BNP Paribas Exane initiated coverage on shares of QXO in a research report on Monday, March 16th. They issued an "outperform" rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.53.

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. 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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