QXO, Inc. (NASDAQ:QXO) Holdings Reduced by Motley Fool Wealth Management LLC

Key Points

• Motley Fool Wealth Management LLC reduced its position in QXO, Inc. by 6.2% in the first quarter, owning approximately 499,777 shares valued at $6.77 million.
• Other institutional investors have also altered their stakes, with First Horizon Advisors Inc. increasing its stake by 57.4% and Signaturefd LLC raising its stake by 533.6% during the same period.
• Research analysts currently have a positive outlook on QXO shares, with several giving buy ratings and an average price target of $32.71.

Motley Fool Wealth Management LLC decreased its position in QXO, Inc. (NASDAQ:QXO - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 499,777 shares of the company's stock after selling 32,976 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.11% of QXO worth $6,767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC acquired a new stake in QXO during the first quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in QXO in the 1st quarter valued at approximately $27,000. CWM LLC acquired a new position in QXO in the 1st quarter valued at approximately $27,000. First Horizon Advisors Inc. increased its stake in QXO by 57.4% in the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock valued at $38,000 after buying an additional 1,017 shares during the period. Finally, Signaturefd LLC increased its stake in QXO by 533.6% in the 1st quarter. Signaturefd LLC now owns 3,168 shares of the company's stock valued at $43,000 after buying an additional 2,668 shares during the period. 58.68% of the stock is currently owned by institutional investors.

QXO Trading Down 0.5%

NASDAQ:QXO opened at $19.28 on Monday. QXO, Inc. has a 1 year low of $10.62 and a 1 year high of $24.69. The firm's fifty day simple moving average is $20.80 and its 200 day simple moving average is $16.28. The firm has a market capitalization of $11.19 billion, a PE ratio of -2.11, a PEG ratio of 4.09 and a beta of 2.34.

Wall Street Analyst Weigh In

Several research analysts have weighed in on QXO shares. Baird R W upgraded shares of QXO to a "strong-buy" rating in a research note on Thursday, June 12th. William Blair started coverage on shares of QXO in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Truist Financial assumed coverage on shares of QXO in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target on the stock. Robert W. Baird assumed coverage on shares of QXO in a report on Thursday, June 12th. They set an "outperform" rating and a $32.00 price target on the stock. Finally, Citigroup assumed coverage on shares of QXO in a report on Wednesday, July 16th. They set a "buy" rating and a $33.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QXO has an average rating of "Buy" and an average price target of $32.71.

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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