QXO, Inc. $QXO Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its position in QXO, Inc. (NYSE:QXO) by 53.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 101,300 shares of the company’s stock after acquiring an additional 35,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in QXO were worth $2,182,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amundi lifted its stake in shares of QXO by 26.4% in the 1st quarter. Amundi now owns 715,087 shares of the company’s stock valued at $9,861,000 after purchasing an additional 149,504 shares in the last quarter. Brown Miller Wealth Management LLC acquired a new position in shares of QXO in the 2nd quarter valued at about $592,000. Deltec Asset Management LLC lifted its stake in shares of QXO by 250.0% in the 2nd quarter. Deltec Asset Management LLC now owns 35,000 shares of the company’s stock valued at $754,000 after purchasing an additional 25,000 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of QXO in the 1st quarter valued at about $200,000. Finally, Truist Financial Corp lifted its stake in shares of QXO by 15.9% in the 2nd quarter. Truist Financial Corp now owns 127,151 shares of the company’s stock valued at $2,739,000 after purchasing an additional 17,399 shares in the last quarter. 58.68% of the stock is owned by institutional investors and hedge funds.

QXO Price Performance

QXO stock opened at $18.60 on Monday. The company has a quick ratio of 2.15, a current ratio of 3.00 and a debt-to-equity ratio of 0.38. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69. The stock’s 50 day moving average is $20.19 and its two-hundred day moving average is $18.52. The company has a market capitalization of $12.53 billion, a PE ratio of -88.59, a P/E/G ratio of 2.59 and a beta of 2.25.

QXO (NYSE:QXO) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. QXO had a positive return on equity of 2.15% and a negative net margin of 1.09%.The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. Analysts predict that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

QXO has been the topic of several research analyst reports. Zacks Research lowered QXO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Weiss Ratings reissued a “sell (d)” rating on shares of QXO in a research report on Wednesday, October 8th. Truist Financial reduced their price target on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley started coverage on QXO in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Benchmark raised QXO to a “strong-buy” rating in a research report on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

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.