Strs Ohio Invests $6.28 Million in QXO, Inc. $QXO

Strs Ohio acquired a new stake in shares of QXO, Inc. (NYSE:QXO) during the second quarter, Holdings Channel.com reports. The fund acquired 291,499 shares of the company’s stock, valued at approximately $6,279,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QXO. Vanguard Group Inc. grew its position in QXO by 146.1% during the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock valued at $334,539,000 after purchasing an additional 14,667,571 shares in the last quarter. Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new position in QXO during the first quarter valued at approximately $118,142,000. Catawba River Capital grew its position in QXO by 127.8% during the second quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock valued at $24,041,000 after purchasing an additional 626,067 shares in the last quarter. TD Asset Management Inc grew its position in QXO by 189.1% during the second quarter. TD Asset Management Inc now owns 891,482 shares of the company’s stock valued at $19,203,000 after purchasing an additional 583,092 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in QXO during the first quarter valued at approximately $6,534,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Price Performance

Shares of QXO stock opened at $17.67 on Monday. The firm has a fifty day simple moving average of $19.81 and a 200-day simple moving average of $19.06. The company has a current ratio of 3.00, a quick ratio of 2.15 and a debt-to-equity ratio of 0.38. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $24.69. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of -84.12, a PEG ratio of 2.58 and a beta of 2.25.

QXO (NYSE:QXO) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.87 billion. On average, sell-side analysts expect that QXO, Inc. will post -0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on QXO shares. Truist Financial lowered their price objective on shares of QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Wells Fargo & Company started coverage on shares of QXO in a research report on Tuesday, August 5th. They set an “overweight” rating and a $30.00 price objective on the stock. Benchmark raised shares of QXO to a “strong-buy” rating in a research report on Monday, August 25th. Zacks Research downgraded shares of QXO from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Finally, KeyCorp set a $28.00 target price on shares of QXO in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.