QXO, Inc. $QXO Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its position in QXO by 1.3%, selling 727,029 shares and now holds 54,596,714 shares (8.09%) valued at about $1.053 billion.
• Other institutions piled in — notably Baillie Gifford added 14,644,305 shares (now 14,735,164 shares) and Finepoint, Schf GPE, MTCO and Fred Alger also built large stakes, leaving institutions with 58.68% ownership.
• QXO has a market cap of $14.38 billion and a negative P/E (-33.62); it missed quarterly EPS ($0.02 vs. $0.03) despite huge revenue growth, while analysts hold a Moderate Buy consensus and a $32.53 target price.

Vanguard Group Inc. cut its position in shares of QXO, Inc. (NYSE:QXO - Free Report) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,596,714 shares of the company's stock after selling 727,029 shares during the period. Vanguard Group Inc. owned 8.09% of QXO worth $1,053,171,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Finepoint Capital LP boosted its holdings in QXO by 5.4% during the third quarter. Finepoint Capital LP now owns 22,295,615 shares of the company's stock worth $424,954,000 after buying an additional 1,142,747 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company's stock worth $284,241,000 after buying an additional 14,644,305 shares in the last quarter. Schf GPE LLC boosted its holdings in QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company's stock worth $286,901,000 after buying an additional 8,943,089 shares in the last quarter. MTCO Ltd. purchased a new stake in QXO during the third quarter worth $208,534,000. Finally, Fred Alger Management LLC purchased a new stake in QXO during the third quarter worth $173,053,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Performance

QXO opened at $19.83 on Friday. The company has a quick ratio of 2.61, a current ratio of 3.58 and a debt-to-equity ratio of 0.37. The company has a market cap of $14.38 billion, a price-to-earnings ratio of -33.62, a PEG ratio of 3.14 and a beta of 2.40. QXO, Inc. has a 52-week low of $13.09 and a 52-week high of $27.61. The firm's fifty day simple moving average is $21.39 and its two-hundred day simple moving average is $21.14.

QXO (NYSE:QXO - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The business's revenue for the quarter was up 14725.0% on a year-over-year basis. Equities analysts anticipate that QXO, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

QXO has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of QXO from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, April 20th. Royal Bank Of Canada lowered their price target on shares of QXO from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Monday, April 6th. Benchmark reissued a "buy" rating on shares of QXO in a report on Friday, February 20th. BNP Paribas Exane initiated coverage on shares of QXO in a report on Monday, March 16th. They set an "outperform" rating and a $30.00 price target on the stock. Finally, Citigroup lowered their price target on shares of QXO from $33.00 to $31.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, QXO has a consensus rating of "Moderate Buy" and a consensus target price of $32.53.

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. It also offers value-added services that focuses on consulting and professional, specialized programming, training, and technical support services. In addition, the company provides information technology managed services, such as cybersecurity, application hosting, disaster recovery, business continuity, cloud, and other services; and data back-up, network maintenance, and upgrade services.

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