Moody National Bank Trust Division lifted its holdings in QXO, Inc. (NYSE:QXO – Free Report) by 43.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,350 shares of the company’s stock after purchasing an additional 47,600 shares during the period. Moody National Bank Trust Division’s holdings in QXO were worth $2,702,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in QXO. Sunbelt Securities Inc. grew its position in QXO by 6.8% in the fourth quarter. Sunbelt Securities Inc. now owns 6,300 shares of the company’s stock worth $122,000 after buying an additional 400 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of QXO by 42.4% during the 4th quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Maple Capital Management Inc. lifted its position in shares of QXO by 4.7% during the 4th quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after acquiring an additional 543 shares during the last quarter. Allworth Financial LP boosted its stake in shares of QXO by 27.2% during the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock worth $50,000 after acquiring an additional 552 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of QXO by 57.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock worth $30,000 after acquiring an additional 575 shares in the last quarter. 58.68% of the stock is currently owned by institutional investors.
QXO Price Performance
Shares of NYSE:QXO opened at $15.37 on Wednesday. The company’s fifty day moving average is $15.70 and its two-hundred day moving average is $19.46. The company has a market cap of $15.94 billion, a P/E ratio of -16.88, a price-to-earnings-growth ratio of 2.52 and a beta of 2.28. QXO, Inc. has a 12-month low of $13.18 and a 12-month high of $27.61. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35.
Analyst Ratings Changes
A number of brokerages have recently issued reports on QXO. KeyCorp cut their target price on QXO from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Wall Street Zen upgraded QXO from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. Wells Fargo & Company set a $18.00 price target on QXO in a research note on Tuesday, July 28th. Robert W. Baird cut their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Finally, Oppenheimer upped their price objective on shares of QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and a consensus target price of $29.71.
Read Our Latest Analysis on QXO
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. 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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