TD Asset Management Inc Sells 50,242 Shares of QXO, Inc. (NASDAQ:QXO)

Key Points

• TD Asset Management Inc reduced its holdings in QXO, Inc. by 14.0% during the first quarter, selling 50,242 shares and retaining 308,390 shares valued at approximately $4.18 million.
• Several other institutional investors also adjusted their positions in QXO, with Settian Capital LP significantly increasing its holdings by 97.4% in the same quarter.
• Analysts have given QXO a consensus rating of "Buy" with an average price target set at $33.17, indicating positive sentiment towards the stock's future performance.

TD Asset Management Inc trimmed its position in QXO, Inc. (NASDAQ:QXO - Free Report) by 14.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 308,390 shares of the company's stock after selling 50,242 shares during the period. TD Asset Management Inc owned 0.07% of QXO worth $4,176,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of QXO. First Horizon Advisors Inc. raised its position in QXO by 57.4% during the 1st quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company's stock worth $38,000 after purchasing an additional 1,017 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of QXO in the 1st quarter valued at about $26,000. Lewis Asset Management LLC boosted its position in shares of QXO by 18.3% during the 1st quarter. Lewis Asset Management LLC now owns 12,900 shares of the company's stock valued at $175,000 after purchasing an additional 2,000 shares in the last quarter. CWM LLC bought a new stake in shares of QXO during the 1st quarter valued at about $27,000. Finally, Tilia Fiduciary Partners Inc. boosted its position in shares of QXO by 16.1% during the 1st quarter. Tilia Fiduciary Partners Inc. now owns 18,790 shares of the company's stock valued at $254,000 after purchasing an additional 2,609 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.

QXO Stock Performance

Shares of QXO stock traded up $0.31 during mid-day trading on Monday, hitting $19.64. 7,988,743 shares of the stock were exchanged, compared to its average volume of 5,724,713. QXO, Inc. has a 12 month low of $10.61 and a 12 month high of $24.69. The company has a 50-day simple moving average of $20.55 and a 200 day simple moving average of $16.09. The company has a market capitalization of $11.40 billion, a P/E ratio of -2.15, a P/E/G ratio of 4.09 and a beta of 2.35.

Wall Street Analyst Weigh In

Several analysts have recently commented on QXO shares. Wolfe Research started coverage on QXO in a research note on Friday, June 6th. They issued an "outperform" rating and a $44.00 target price for the company. Truist Financial started coverage on QXO in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 target price for the company. Royal Bank Of Canada initiated coverage on QXO in a research note on Monday, July 21st. They issued an "outperform" rating and a $33.00 target price for the company. Robert W. Baird initiated coverage on QXO in a research note on Thursday, June 12th. They set an "outperform" rating and a $32.00 price target for the company. Finally, Oppenheimer initiated coverage on QXO in a research note on Wednesday, June 11th. They set an "outperform" rating and a $27.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QXO currently has an average rating of "Buy" and a consensus target price of $33.17.

QXO 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.