QXO, Inc. $QXO Shares Bought by Amundi

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 grew its holdings in QXO, Inc. (NASDAQ:QXO - Free Report) by 26.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 715,087 shares of the company's stock after acquiring an additional 149,504 shares during the quarter. Amundi owned 0.16% of QXO worth $9,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of QXO. Larson Financial Group LLC acquired a new position in QXO during the first quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of QXO during the 1st quarter worth approximately $27,000. CWM LLC bought a new stake in shares of QXO during the 1st quarter valued at $27,000. First Horizon Advisors Inc. lifted its position in shares of 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 buying an additional 1,017 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of QXO by 533.6% in the first 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 owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on QXO shares. Robert W. Baird began coverage on QXO in a research report on Thursday, June 12th. They issued an "outperform" rating and a $32.00 price objective on the stock. Royal Bank Of Canada initiated coverage on QXO in a report on Monday, July 21st. They issued an "outperform" rating and a $33.00 price objective for the company. Morgan Stanley started coverage on QXO in a research report on Tuesday, September 2nd. They set an "overweight" rating and a $35.00 price objective for the company. Wolfe Research started coverage on QXO in a report on Friday, June 6th. They issued an "outperform" rating and a $44.00 target price for the company. Finally, Zacks Research upgraded QXO from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $33.73.

QXO Stock Performance

QXO stock traded down $0.47 during midday trading on Friday, reaching $20.79. The stock had a trading volume of 6,252,873 shares, compared to its average volume of 6,029,027. The stock has a market cap of $14.01 billion, a PE ratio of -2.28, a P/E/G ratio of 4.09 and a beta of 2.35. The firm has a fifty day simple moving average of $20.83 and a two-hundred day simple moving average of $17.51. QXO, Inc. has a 52-week low of $11.85 and a 52-week 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.