Universal Beteiligungs und Servicegesellschaft mbH Acquires New Shares in QXO, Inc. (NASDAQ:QXO)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has invested $248,000 in QXO, Inc. by acquiring 18,339 shares during the first quarter.
• Several large investors are increasing their stakes in QXO, with Affinity Partners GP LP purchasing a $260 million position, while T. Rowe Price and Vanguard Group raised their holdings significantly in the fourth quarter.
• Analysts are optimistic about QXO, with seven analysts giving it a "buy" rating and a target price consensus of $33.17, indicating strong market confidence in the company's future performance.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of QXO, Inc. (NASDAQ:QXO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 18,339 shares of the company's stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in QXO during the first quarter worth about $809,000. Settian Capital LP raised its stake in shares of QXO by 97.4% during the first quarter. Settian Capital LP now owns 256,578 shares of the company's stock valued at $3,474,000 after purchasing an additional 126,578 shares during the period. Lewis Asset Management LLC raised its position in shares of QXO by 18.3% in the 1st quarter. Lewis Asset Management LLC now owns 12,900 shares of the company's stock valued at $175,000 after purchasing an additional 2,000 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of QXO by 25.5% in the first quarter. Verdence Capital Advisors LLC now owns 19,958 shares of the company's stock worth $270,000 after buying an additional 4,050 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new position in QXO during the 1st quarter worth $26,000. Institutional investors and hedge funds own 58.68% of the company's stock.

QXO Stock Down 1.7%

NASDAQ:QXO traded down $0.33 during midday trading on Wednesday, hitting $19.10. The stock had a trading volume of 4,934,541 shares, compared to its average volume of 5,719,298. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of -2.09, a PEG ratio of 4.09 and a beta of 2.35. QXO, Inc. has a one year low of $10.61 and a one year high of $24.69. The stock has a 50-day moving average of $20.67 and a 200 day moving average of $16.16.

Wall Street Analyst Weigh In

QXO has been the topic of several recent analyst reports. Truist Financial assumed coverage on QXO in a report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective on the stock. Royal Bank Of Canada started coverage on shares of QXO in a research report on Monday, July 21st. They set an "outperform" rating and a $33.00 target price for the company. Baird R W upgraded shares of QXO to a "strong-buy" rating in a research report on Thursday, June 12th. William Blair initiated coverage on shares of QXO in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Finally, Citigroup started coverage on QXO in a research report on Wednesday, July 16th. They set a "buy" rating and a $33.00 target price for the company. Eight 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.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $32.71.

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.