MTCO Ltd. Acquires Shares of 10,940,919 QXO, Inc. $QXO

Key Points

• MTCO Ltd. acquired a new position of 10,940,919 shares of QXO valued at about $208.5 million, making QXO 88.7% of MTCO’s portfolio and representing 1.62% of QXO’s shares.
• Several large institutions have also built stakes—Vanguard now owns 47,192,412 shares (~$1.02 billion) after a 91% increase, and firms like Alpha Wave, Affinity Partners, Fred Alger and Schf GPE added sizable positions, leaving institutions with 58.68% ownership.
• Analysts show a consensus rating of Moderate Buy with a consensus target of $32.27 (recent targets ~$26–$31); QXO trades near $20.84 with a 52‑week range of $11.97–$27.61 and a negative PE.

MTCO Ltd. acquired a new position in QXO, Inc. (NYSE:QXO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,940,919 shares of the company's stock, valued at approximately $208,534,000. QXO accounts for 88.7% of MTCO Ltd.'s portfolio, making the stock its biggest holding. MTCO Ltd. owned 1.62% of QXO as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QXO. Alpha Wave Global LP acquired a new position in QXO during the second quarter valued at $525,366,000. Vanguard Group Inc. grew its position in QXO by 91.0% during the 2nd quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company's stock worth $1,016,525,000 after purchasing an additional 22,484,977 shares during the period. Affinity Partners GP LP raised its stake in shares of QXO by 99.1% during the 2nd quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company's stock valued at $703,745,000 after buying an additional 16,260,163 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of QXO during the 3rd quarter valued at about $173,053,000. Finally, Schf GPE LLC lifted its holdings in shares of QXO by 204.3% in the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company's stock valued at $286,901,000 after buying an additional 8,943,089 shares during the period. Hedge funds and other institutional investors own 58.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Loop Capital started coverage on QXO in a research note on Thursday, December 11th. They issued a "buy" rating and a $31.00 target price on the stock. Royal Bank Of Canada set a $30.00 price target on QXO in a research report on Friday, January 9th. Oppenheimer boosted their price target on QXO from $27.00 to $30.00 and gave the company an "outperform" rating in a report on Friday, January 16th. Truist Financial lowered their price objective on QXO from $28.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, December 19th. Finally, BNP Paribas Exane started coverage on shares of QXO in a report on Monday. They set an "outperform" rating and a $30.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $32.27.

QXO Price Performance

NYSE:QXO opened at $20.84 on Wednesday. The company has a quick ratio of 2.61, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. QXO, Inc. has a 52 week low of $11.97 and a 52 week high of $27.61. The stock's 50-day moving average price is $23.66 and its 200-day moving average price is $21.04. The stock has a market capitalization of $14.76 billion, a PE ratio of -35.32, a price-to-earnings-growth ratio of 3.30 and a beta of 2.51.

QXO (NYSE:QXO - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). QXO had a positive return on equity of 3.45% and a negative net margin of 4.08%.The firm's quarterly revenue was up 14725.0% compared to the same quarter last year. As a group, equities analysts expect that QXO, Inc. will post -0.13 EPS 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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