Pictet Asset Management Holding SA Purchases 227,946 Shares of QXO, Inc. $QXO

Key Points

• Pictet Asset Management raised its stake in QXO by 21.4% in Q4, buying 227,946 shares to hold 1,292,688 shares (about 0.19% of the company) valued at roughly $24.94 million.
• Other institutional activity included Zurcher Kantonalbank boosting its stake by 748.7% (adding 774,138 shares to own 877,538 shares, ~$16.93M) and institutions now own about 58.68% of QXO.
• Analyst sentiment is largely positive—MarketBeat shows a "Moderate Buy" consensus with an average target of $32.53 (majority Buy ratings); QXO trades near $20.12 with a 52‑week range of $13.09–$27.61 and a negative P/E.

Pictet Asset Management Holding SA raised its holdings in shares of QXO, Inc. (NYSE:QXO - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,292,688 shares of the company's stock after purchasing an additional 227,946 shares during the period. Pictet Asset Management Holding SA owned 0.19% of QXO worth $24,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Intact Investment Management Inc. purchased a new position in QXO during the third quarter valued at approximately $982,000. Campbell & CO Investment Adviser LLC purchased a new stake in QXO in the 3rd quarter worth approximately $1,006,000. Fishman Jay A Ltd. MI bought a new position in QXO in the 3rd quarter valued at $10,444,000. Fred Alger Management LLC bought a new position in QXO in the 3rd quarter valued at $173,053,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of QXO by 748.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company's stock valued at $16,928,000 after purchasing an additional 774,138 shares in the last quarter. Institutional investors own 58.68% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on QXO. BNP Paribas Exane assumed coverage on shares of QXO in a report on Monday, March 16th. They issued an "outperform" rating and a $30.00 price target on the stock. KeyCorp boosted their target price on QXO from $30.00 to $32.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Wall Street Zen lowered QXO from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Citigroup lowered their price target on QXO from $33.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. Finally, Benchmark reissued a "buy" rating on shares of QXO in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $32.53.

QXO Stock Performance

NYSE QXO opened at $20.12 on Friday. QXO, Inc. has a 52-week low of $13.09 and a 52-week high of $27.61. The company has a fifty day moving average of $21.39 and a 200-day moving average of $21.14. The company has a market capitalization of $14.28 billion, a P/E ratio of -34.10, a P/E/G ratio of 3.06 and a beta of 2.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 3.58.

QXO (NYSE:QXO - Get Free Report) last released its earnings results 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%. QXO's revenue for the quarter was up 14725.0% on a year-over-year basis. As a group, equities research analysts predict that QXO, Inc. will post 0.32 EPS for the current fiscal year.

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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