Praxis Investment Management Inc. Purchases Shares of 11,540 QXO, Inc. (NASDAQ:QXO)

Praxis Investment Management Inc. acquired a new stake in shares of QXO, Inc. (NASDAQ:QXO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,540 shares of the company's stock, valued at approximately $156,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Affinity Partners GP LP acquired a new position in QXO during the fourth quarter worth $260,941,000. Federated Hermes Inc. acquired a new stake in shares of QXO in the 4th quarter worth about $50,532,000. Vanguard Group Inc. lifted its position in QXO by 24.6% in the 4th quarter. Vanguard Group Inc. now owns 10,039,864 shares of the company's stock valued at $159,634,000 after acquiring an additional 1,979,147 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in QXO by 523.9% during the 4th quarter. JPMorgan Chase & Co. now owns 877,902 shares of the company's stock valued at $13,959,000 after purchasing an additional 737,192 shares during the last quarter. Finally, Swiss National Bank bought a new stake in QXO during the 4th quarter worth approximately $10,884,000. Institutional investors own 58.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on QXO shares. Oppenheimer started coverage on QXO in a research note on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price objective on the stock. William Blair began coverage on shares of QXO in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. Baird R W upgraded shares of QXO to a "strong-buy" rating in a research note on Thursday, June 12th. Robert W. Baird initiated coverage on QXO in a research note on Thursday, June 12th. They issued an "outperform" rating and a $32.00 target price on the stock. Finally, Wolfe Research initiated coverage on QXO in a report on Friday, June 6th. They set an "outperform" rating and a $44.00 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $34.33.

QXO Trading Down 2.5%

Shares of NASDAQ:QXO traded down $0.61 during mid-day trading on Tuesday, reaching $23.52. The company had a trading volume of 5,256,588 shares, compared to its average volume of 3,360,661. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of -2.58, a PEG ratio of 4.09 and a beta of 2.38. The company's 50-day moving average price is $16.47 and its 200-day moving average price is $14.92. QXO, Inc. has a one year low of $10.61 and a one year high of $157.28.

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.