Amundi Increases Stock Position in QXO, Inc. $QXO

Key Points

• Amundi increased its stake in QXO, Inc. by 26.4% during the 1st quarter, acquiring an additional 149,504 shares, making its total holdings approximately 715,087 shares worth about $9.86 million.
• Currently, 58.68% of QXO's stock is owned by institutional investors and hedge funds, signaling strong institutional interest.
• Analysts have favorable views on QXO, with an average rating of "Buy" and a target price of $33.73, indicating optimism about the company's future performance.

Amundi boosted its position in QXO, Inc. (NASDAQ:QXO - Free Report) by 26.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 715,087 shares of the company's stock after purchasing an additional 149,504 shares during the period. Amundi owned about 0.16% of QXO worth $9,861,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in QXO in the 4th quarter worth about $255,000. Northern Trust Corp grew its position in QXO by 46.9% in the 4th quarter. Northern Trust Corp now owns 731,610 shares of the company's stock worth $11,633,000 after purchasing an additional 233,538 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in QXO in the 1st quarter worth about $200,000. KBC Group NV grew its position in QXO by 23.8% in the 1st quarter. KBC Group NV now owns 16,270 shares of the company's stock worth $220,000 after purchasing an additional 3,126 shares in the last quarter. Finally, First Bank & Trust bought a new stake in QXO in the 1st quarter worth about $194,000. 58.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on QXO shares. Citigroup started coverage on shares of QXO in a research report on Wednesday, July 16th. They set a "buy" rating and a $33.00 target price for the company. Truist Financial started coverage on shares of QXO in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price for the company. Wolfe Research started coverage on shares of QXO in a research report on Friday, June 6th. They set an "outperform" rating and a $44.00 target price for the company. Raymond James Financial started coverage on shares of QXO in a research report on Friday, September 5th. They set an "outperform" rating and a $28.00 target price for the company. Finally, Zacks Research raised shares of QXO from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. Based on data from MarketBeat, QXO has a consensus rating of "Buy" and a consensus target price of $33.73.

QXO Trading Up 2.0%

Shares of QXO stock traded up $0.41 during trading on Monday, reaching $21.18. 5,344,907 shares of the company's stock traded hands, compared to its average volume of 6,025,132. The company has a market capitalization of $14.27 billion, a P/E ratio of -2.32, a PEG ratio of 4.09 and a beta of 2.35. The firm's 50-day moving average is $20.82 and its 200 day moving average is $17.65. QXO, Inc. has a 1 year low of $11.85 and a 1 year high of $24.69.

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.