Settian Capital LP Has $3.47 Million Stock Position in QXO, Inc. (NASDAQ:QXO)

Settian Capital LP increased its position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) by 97.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 256,578 shares of the company's stock after purchasing an additional 126,578 shares during the period. QXO makes up about 2.7% of Settian Capital LP's portfolio, making the stock its 11th biggest holding. Settian Capital LP owned approximately 0.06% of QXO worth $3,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Affinity Partners GP LP acquired a new position in QXO in the 4th quarter valued at $260,941,000. T. Rowe Price Investment Management Inc. raised its holdings in QXO by 3.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,886,193 shares of the company's stock valued at $173,091,000 after acquiring an additional 312,299 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of QXO by 24.6% in the 4th quarter. Vanguard Group Inc. now owns 10,039,864 shares of the company's stock valued at $159,634,000 after purchasing an additional 1,979,147 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of QXO in the 4th quarter valued at $50,532,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of QXO by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,885,908 shares of the company's stock valued at $25,535,000 after purchasing an additional 8,322 shares during the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Price Performance

Shares of QXO stock traded down $0.31 on Thursday, hitting $21.82. 2,287,483 shares of the company's stock traded hands, compared to its average volume of 5,710,498. QXO, Inc. has a one year low of $10.61 and a one year high of $113.97. The company has a fifty day moving average of $20.01 and a two-hundred day moving average of $15.81. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of -2.40, a price-to-earnings-growth ratio of 4.09 and a beta of 2.41.

Wall Street Analyst Weigh In

QXO has been the topic of several recent analyst reports. Truist Financial initiated coverage on QXO in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price target on the stock. Royal Bank Of Canada initiated coverage on QXO in a research note on Monday. They issued an "outperform" rating and a $33.00 price target on the stock. Oppenheimer initiated coverage on QXO in a research note on Wednesday, June 11th. They issued an "outperform" rating and a $27.00 price target on the stock. Wolfe Research initiated coverage on QXO in a research note on Friday, June 6th. They issued an "outperform" rating and a $44.00 price target on the stock. Finally, Robert W. Baird initiated coverage on QXO in a research report on Thursday, June 12th. They set an "outperform" rating and a $32.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QXO currently has an average rating of "Buy" and an average target price of $33.17.

About QXO

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.