QXO, Inc. $QXO Stock: Fishman Jay A Ltd. MI Increases Stake

Key Points

• Fishman Jay A Ltd. MI increased its QXO stake by 6.7% in the third quarter, adding 105,595 shares to own 1.68 million shares valued at approximately $19.7 million. Institutional investors collectively hold 58.68% of QXO.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $24.77 price target, despite ratings ranging from Sell to Strong Buy.
• QXO shares opened at $10.62, near their 52-week low of $10.03 and well below the 52-week high of $27.61. The company recently reported quarterly revenue of $3.25 billion and EPS of $0.08, matching analyst expectations for earnings.

Fishman Jay A Ltd. MI boosted its holdings in QXO, Inc. (NYSE:QXO - Free Report) by 6.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,683,830 shares of the company's stock after buying an additional 105,595 shares during the quarter. QXO makes up 1.6% of Fishman Jay A Ltd. MI's holdings, making the stock its 15th biggest holding. Fishman Jay A Ltd. MI owned approximately 0.16% of QXO worth $19,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Center for Financial Planning Inc. acquired a new position in QXO during the 3rd quarter worth approximately $26,000. Root Financial Partners LLC raised its stake in shares of QXO by 73,350.0% during the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company's stock valued at $29,000 after acquiring an additional 1,467 shares during the last quarter. Signaturefd LLC raised its stake in shares of QXO by 166.6% during the third quarter. Signaturefd LLC now owns 2,973 shares of the company's stock valued at $35,000 after acquiring an additional 1,858 shares during the last quarter. CoreCap Advisors LLC bought a new position in shares of QXO during the third quarter valued at $41,000. Finally, Hartford Financial Management Inc. lifted its holdings in shares of QXO by 59.1% during the third quarter. Hartford Financial Management Inc. now owns 3,500 shares of the company's stock worth $41,000 after purchasing an additional 1,300 shares during the period. Institutional investors own 58.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on QXO shares. Weiss Ratings restated a "sell (d)" rating on shares of QXO in a report on Wednesday, August 26th. Benchmark reaffirmed a "buy" rating on shares of QXO in a report on Friday, August 14th. Wall Street Zen upgraded QXO from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 25th. KeyCorp reduced their price target on QXO from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 1st. Finally, DA Davidson set a $20.00 price target on QXO in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.77.

QXO Trading Up 1.4%

Shares of QXO stock opened at $10.62 on Wednesday. The business has a 50-day moving average price of $12.09 and a two-hundred day moving average price of $17.55. QXO, Inc. has a 1-year low of $10.03 and a 1-year high of $27.61. The company has a market cap of $11.02 billion, a P/E ratio of -11.81 and a beta of 2.30.

QXO (NYSE:QXO - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. Equities research analysts forecast that QXO, Inc. will post 0.24 EPS for the current fiscal year.

QXO Company Profile

QXO, Inc is a building products distribution company serving professional contractors and other customers in the construction industry. Its product offerings include roofing materials, siding, windows, doors, insulation and related exterior building products.

The company operates through a network of distribution locations in the United States and Canada, providing materials, delivery services and product support to contractors and other building-industry customers. QXO's strategy is focused on expanding its presence in the building products distribution market through organic growth and acquisitions.

QXO was formerly known as SilverSun Technologies, Inc and adopted the QXO name as part of a strategic transformation led by investor Brad Jacobs.

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