Troluce Capital Advisors LLC Invests $3.46 Million in QXO, Inc. $QXO

Key Points

• Troluce Capital Advisors acquired 200,000 QXO shares during the second quarter, investing approximately $3.46 million and making QXO its 15th-largest portfolio position.
• Institutional ownership remains substantial, with hedge funds and other institutions holding 58.68% of QXO’s stock. Several smaller investors also recently initiated or increased positions.
• Analysts maintain a generally positive outlook, with QXO receiving a consensus “Moderate Buy” rating and a $28.00 average price target, despite shares opening at $13.42 and trading near their 52-week low.

Troluce Capital Advisors LLC acquired a new stake in shares of QXO, Inc. (NYSE:QXO - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 200,000 shares of the company's stock, valued at approximately $3,456,000. QXO makes up about 0.4% of Troluce Capital Advisors LLC's investment portfolio, making the stock its 15th largest position.

Other institutional investors also recently bought and sold shares of the company. Arax Advisory Partners purchased a new stake in QXO during the fourth quarter worth $25,000. LRI Investments LLC increased its holdings in shares of QXO by 129.1% in the 4th quarter. LRI Investments LLC now owns 1,482 shares of the company's stock valued at $29,000 after acquiring an additional 835 shares during the period. Root Financial Partners LLC increased its holdings in shares of QXO by 73,350.0% in the 1st 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 period. Russell Investments Group Ltd. bought a new position in shares of QXO in the 2nd quarter worth $30,000. Finally, NewEdge Advisors LLC raised its position in shares of QXO by 42.4% in the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company's stock worth $32,000 after acquiring an additional 500 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Benchmark reaffirmed a "buy" rating on shares of QXO in a research report on Friday, August 14th. DA Davidson initiated coverage on shares of QXO in a report on Monday, August 24th. They issued a "buy" rating and a $26.00 target price for the company. Wells Fargo & Company set a $18.00 price target on shares of QXO in a research report on Tuesday, July 28th. Zacks Research upgraded shares of QXO from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Finally, KeyCorp lowered their price target on shares of QXO from $32.00 to $28.00 and set an "overweight" rating on the stock in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, QXO has an average rating of "Moderate Buy" and a consensus price target of $28.00.

QXO Price Performance

Shares of QXO stock opened at $13.42 on Friday. QXO, Inc. has a fifty-two week low of $12.80 and a fifty-two week high of $27.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.29 and a current ratio of 4.11. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of -14.91, a PEG ratio of 2.30 and a beta of 2.32. The stock's 50-day simple moving average is $14.53 and its 200-day simple moving average is $17.96.

QXO (NYSE:QXO - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. QXO had a negative net margin of 5.17% and a positive return on equity of 2.41%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. As a group, equities analysts forecast that QXO, Inc. will post 0.29 earnings per share for the current fiscal year.

QXO 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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