Public Employees Retirement System of Ohio Buys Shares of 184,777 QXO, Inc. $QXO

Key Points

• The Public Employees Retirement System of Ohio acquired 184,777 shares of QXO, Inc., totaling approximately $3.98 million in value during the 2nd quarter.
• Vanguard Group Inc. significantly increased its stake in QXO by 146.1%, now holding over 24.7 million shares valued at approximately $334.5 million.
• Analysts have a consensus rating of "Buy" for QXO, with target prices ranging from $30.00 to $35.00 following various coverage updates from different financial institutions.

Public Employees Retirement System of Ohio purchased a new position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 184,777 shares of the company's stock, valued at approximately $3,980,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of QXO by 146.1% during the 1st quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company's stock worth $334,539,000 after acquiring an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 bought a new stake in shares of QXO during the 1st quarter worth about $118,142,000. Massachusetts Financial Services Co. MA boosted its stake in shares of QXO by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company's stock worth $25,535,000 after acquiring an additional 8,322 shares in the last quarter. Northern Trust Corp boosted its stake in shares of QXO by 13.4% during the 1st quarter. Northern Trust Corp now owns 829,496 shares of the company's stock worth $11,231,000 after acquiring an additional 97,886 shares in the last quarter. Finally, Amundi boosted its stake in shares of QXO by 26.4% during the 1st quarter. Amundi now owns 715,087 shares of the company's stock worth $9,861,000 after acquiring an additional 149,504 shares in the last quarter. Institutional investors own 58.68% of the company's stock.

QXO Stock Performance

NASDAQ:QXO opened at $19.06 on Wednesday. The stock's 50-day simple moving average is $20.44 and its 200 day simple moving average is $18.14. The company has a market cap of $12.83 billion, a P/E ratio of -2.09, a P/E/G ratio of 4.09 and a beta of 2.35. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69.

Analyst Upgrades and Downgrades

QXO has been the subject of several recent analyst reports. Morgan Stanley began coverage on QXO in a research note on Tuesday, September 2nd. They set an "overweight" rating and a $35.00 target price for the company. Zacks Research downgraded QXO from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. William Blair began coverage on QXO in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. Truist Financial began coverage on QXO in a research report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company began coverage on QXO in a research report on Tuesday, August 5th. They issued an "overweight" rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, QXO currently has a consensus rating of "Buy" and an average target price of $33.73.

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.

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