Braun Stacey Associates Inc. Has $25.95 Million Stock Holdings in QXO, Inc. $QXO

Braun Stacey Associates Inc. boosted its position in shares of QXO, Inc. (NYSE:QXO) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,336,330 shares of the company’s stock after acquiring an additional 37,480 shares during the period. Braun Stacey Associates Inc. owned approximately 0.19% of QXO worth $25,952,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after purchasing an additional 14,644,305 shares during the period. MTCO Ltd. bought a new position in QXO in the third quarter worth $208,534,000. Fred Alger Management LLC bought a new position in QXO in the third quarter worth $173,053,000. Schf GPE LLC boosted its stake in QXO by 204.3% during the second quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock worth $286,901,000 after buying an additional 8,943,089 shares in the last quarter. Finally, Norges Bank acquired a new stake in QXO during the fourth quarter worth $140,421,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

QXO Stock Down 1.5%

Shares of NYSE:QXO opened at $17.73 on Friday. The company’s fifty day moving average is $18.11 and its 200-day moving average is $20.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 3.33. QXO, Inc. has a 52 week low of $14.75 and a 52 week high of $27.61. The company has a market capitalization of $12.86 billion, a PE ratio of -19.49, a P/E/G ratio of 4.56 and a beta of 2.30.

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

Analyst Upgrades and Downgrades

QXO has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Zacks Research upgraded shares of QXO from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada lowered their target price on shares of QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, April 6th. Citigroup cut their price target on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, KeyCorp upped their price objective on QXO from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.14.

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.