Geode Capital Management LLC Has $169.36 Million Stock Position in QXO, Inc. $QXO

Geode Capital Management LLC grew its stake in QXO, Inc. (NYSE:QXO) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,777,960 shares of the company’s stock after purchasing an additional 61,120 shares during the quarter. Geode Capital Management LLC owned about 1.30% of QXO worth $169,359,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Cherry Creek Investment Advisors Inc. lifted its stake in shares of QXO by 0.6% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 84,636 shares of the company’s stock valued at $1,633,000 after purchasing an additional 474 shares during the period. Maple Capital Management Inc. lifted its stake in shares of QXO by 4.7% in the 4th quarter. Maple Capital Management Inc. now owns 11,988 shares of the company’s stock valued at $231,000 after purchasing an additional 543 shares during the period. Allworth Financial LP lifted its stake in shares of QXO by 27.2% in the 4th quarter. Allworth Financial LP now owns 2,580 shares of the company’s stock valued at $50,000 after purchasing an additional 552 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of QXO by 57.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after purchasing an additional 575 shares during the period. Finally, Quest Investment Management LLC lifted its stake in shares of QXO by 2.0% in the 3rd quarter. Quest Investment Management LLC now owns 34,959 shares of the company’s stock valued at $666,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Price Performance

QXO opened at $16.52 on Thursday. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. QXO, Inc. has a 12 month low of $15.50 and a 12 month high of $27.61. The company has a fifty day simple moving average of $19.33 and a 200 day simple moving average of $21.05. The stock has a market cap of $11.98 billion, a P/E ratio of -18.15, a P/E/G ratio of 4.18 and a beta of 2.30.

QXO (NYSE:QXO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. The business’s quarterly revenue was up 12716.3% on a year-over-year basis. On average, research analysts expect that QXO, Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

QXO has been the topic of a number of analyst reports. Citigroup cut their price target on QXO from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Royal Bank Of Canada cut their price target on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, February 20th. Finally, KeyCorp increased their price target on QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Sixteen investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

QXO Company 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. 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.