Teacher Retirement System of Texas Makes New Investment in QXO, Inc. (NASDAQ:QXO)

Teacher Retirement System of Texas bought a new stake in QXO, Inc. (NASDAQ:QXO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 50,878 shares of the company's stock, valued at approximately $689,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Blair William & Co. IL acquired a new position in QXO during the fourth quarter valued at approximately $229,000. Barclays PLC bought a new stake in shares of QXO in the 4th quarter valued at $1,168,000. Deutsche Bank AG bought a new position in shares of QXO during the 4th quarter worth approximately $255,000. Northern Trust Corp increased its stake in QXO by 46.9% in the fourth quarter. Northern Trust Corp now owns 731,610 shares of the company's stock valued at $11,633,000 after purchasing an additional 233,538 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in QXO by 277.5% during the 4th quarter. Wells Fargo & Company MN now owns 29,159 shares of the company's stock worth $464,000 after buying an additional 21,435 shares during the period. 58.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on QXO shares. Oppenheimer started coverage on QXO in a research report on Wednesday, June 11th. They set an "outperform" rating and a $27.00 target price for the company. Truist Financial initiated coverage on QXO in a research report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price objective on the stock. Wolfe Research assumed coverage on shares of QXO in a research report on Friday, June 6th. They issued an "outperform" rating and a $44.00 target price for the company. Citigroup began coverage on QXO in a research note on Wednesday. They set a "buy" rating and a $33.00 price objective on the stock. Finally, Robert W. Baird began coverage on shares of QXO in a research report on Thursday, June 12th. They set an "outperform" rating and a $32.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, QXO currently has a consensus rating of "Buy" and an average target price of $33.20.

QXO Trading Down 0.7%

Shares of QXO traded down $0.16 during mid-day trading on Friday, hitting $21.63. The company's stock had a trading volume of 7,361,674 shares, compared to its average volume of 4,260,649. QXO, Inc. has a 52-week low of $10.61 and a 52-week high of $157.28. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of -2.37, a PEG ratio of 4.09 and a beta of 2.41. The company's 50-day moving average is $19.61 and its 200-day moving average is $15.68.

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.