Allspring Global Investments Holdings LLC Raises Position in QXO, Inc. $QXO

Allspring Global Investments Holdings LLC grew its holdings in QXO, Inc. (NYSE:QXO) by 4.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,560,169 shares of the company’s stock after buying an additional 117,575 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in QXO were worth $50,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QXO. Bogart Wealth LLC purchased a new stake in shares of QXO during the 3rd quarter worth $25,000. Russell Investments Group Ltd. purchased a new position in shares of QXO in the 2nd quarter valued at about $30,000. GAMMA Investing LLC purchased a new position in shares of QXO in the 3rd quarter valued at about $31,000. WPG Advisers LLC acquired a new stake in shares of QXO in the third quarter valued at about $35,000. Finally, Allworth Financial LP lifted its stake in shares of QXO by 66.9% in the third quarter. Allworth Financial LP now owns 2,028 shares of the company’s stock valued at $39,000 after purchasing an additional 813 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on QXO. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a report on Friday, January 9th. Wall Street Zen downgraded shares of QXO from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Benchmark restated a “buy” rating on shares of QXO in a report on Friday, February 20th. Finally, Loop Capital began coverage on QXO in a research note on Thursday, December 11th. They issued a “buy” rating and a $31.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, QXO has a consensus rating of “Moderate Buy” and a consensus target price of $32.27.

QXO Trading Down 0.5%

Shares of QXO stock opened at $19.33 on Thursday. QXO, Inc. has a 1 year low of $11.97 and a 1 year high of $27.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 2.61. The business has a 50 day moving average price of $22.62 and a 200 day moving average price of $20.92. The company has a market capitalization of $13.72 billion, a P/E ratio of -32.75, a P/E/G ratio of 3.10 and a beta of 2.50.

QXO (NYSE:QXO) last announced its earnings results on Wednesday, February 25th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. QXO’s revenue was up 14725.0% on a year-over-year basis. Sell-side analysts anticipate that QXO, Inc. will post -0.13 EPS for the current fiscal year.

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.