QXO, Inc. $QXO Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in QXO, Inc. by 69.5% during the first quarter, owning a total of 66,600 shares valued at $902,000.
• Several institutional investors have strengthened their positions in QXO, with 58.68% of the stock currently held by such investors.
• QXO’s stock has an average rating of "Buy" from analysts, with a consensus price target of $34.22.

OMERS ADMINISTRATION Corp grew its holdings in QXO, Inc. (NASDAQ:QXO - Free Report) by 69.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,600 shares of the company's stock after buying an additional 27,300 shares during the period. OMERS ADMINISTRATION Corp's holdings in QXO were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position 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 buying an additional 14,667,571 shares during the last quarter. Affinity Partners GP LP purchased a new stake in shares of QXO in the fourth quarter valued at about $260,941,000. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $25,535,000 after purchasing an additional 8,322 shares during the period. Northern Trust Corp grew its holdings in shares of QXO by 13.4% in the first quarter. Northern Trust Corp now owns 829,496 shares of the company's stock valued at $11,231,000 after purchasing an additional 97,886 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of QXO in the fourth quarter valued at about $9,796,000. 58.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QXO has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of QXO in a report on Friday, June 6th. They issued an "outperform" rating and a $44.00 price objective for the company. William Blair initiated coverage on shares of QXO in a report on Wednesday, June 18th. They issued an "outperform" rating for the company. Truist Financial initiated coverage on shares of QXO in a report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price objective for the company. Oppenheimer initiated coverage on shares of QXO in a report on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price objective for the company. Finally, Baird R W raised shares of QXO to a "strong-buy" rating in a report on Thursday, June 12th. Three research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $33.73.

QXO Trading Up 6.7%

NASDAQ:QXO traded up $1.39 during mid-day trading on Friday, hitting $22.03. The stock had a trading volume of 10,045,314 shares, compared to its average volume of 6,004,271. The stock has a 50-day simple moving average of $20.86 and a two-hundred day simple moving average of $17.24. The company has a market capitalization of $14.84 billion, a PE ratio of -2.42, a PEG ratio of 4.09 and a beta of 2.35. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $24.69.

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.