Motley Fool Asset Management LLC Sells 12,672 Shares of QXO, Inc. $QXO

Motley Fool Asset Management LLC trimmed its stake in QXO, Inc. (NYSE:QXO) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 389,586 shares of the company’s stock after selling 12,672 shares during the quarter. Motley Fool Asset Management LLC’s holdings in QXO were worth $8,392,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in QXO. Farther Finance Advisors LLC purchased a new stake in shares of QXO during the second quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new stake in shares of QXO during the first quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of QXO during the first quarter valued at approximately $27,000. CWM LLC purchased a new stake in shares of QXO during the first quarter valued at approximately $27,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of QXO by 57.4% during the first quarter. First Horizon Advisors Inc. now owns 2,790 shares of the company’s stock valued at $38,000 after buying an additional 1,017 shares during the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Down 1.7%

Shares of QXO stock opened at $18.08 on Tuesday. The company has a market cap of $12.18 billion, a price-to-earnings ratio of -86.11, a price-to-earnings-growth ratio of 2.57 and a beta of 2.25. The company’s 50 day moving average is $19.94 and its 200 day moving average is $18.92. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $24.69. 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 (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. Research analysts anticipate that QXO, Inc. will post -0.13 EPS for the current year.

Analysts Set New Price Targets

QXO has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of QXO in a report on Tuesday, September 2nd. They set an “overweight” rating and a $35.00 price target on the stock. Benchmark upgraded shares of QXO to a “strong-buy” rating in a report on Monday, August 25th. Royal Bank Of Canada assumed coverage on shares of QXO in a report on Monday, July 21st. They set an “outperform” rating and a $33.00 price target on the stock. KeyCorp set a $28.00 price objective on shares of QXO in a research report on Wednesday, October 1st. Finally, Stephens assumed coverage on shares of QXO in a research report on Wednesday, August 13th. They set an “overweight” rating and a $29.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.85.

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.