QXO, Inc. $QXO Position Increased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its position in QXO, Inc. (NYSE:QXO) by 38.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,928 shares of the company’s stock after buying an additional 33,469 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in QXO were worth $2,333,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC acquired a new position in QXO during the third quarter valued at $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in QXO by 748.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after acquiring an additional 774,138 shares in the last quarter. Baillie Gifford & Co. boosted its position in QXO by 16,117.6% during the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after acquiring an additional 14,644,305 shares during the period. JNBA Financial Advisors acquired a new stake in QXO during the 4th quarter worth about $992,000. Finally, Neuberger Berman Group LLC grew its stake in QXO by 36.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock valued at $21,131,000 after acquiring an additional 293,351 shares in the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Performance

Shares of QXO stock opened at $17.69 on Tuesday. QXO, Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $27.61. The stock’s 50-day moving average is $17.98 and its two-hundred day moving average is $20.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.33 and a quick ratio of 2.47. The firm has a market cap of $12.83 billion, a P/E ratio of -19.44, a PEG ratio of 4.56 and a beta of 2.30.

QXO (NYSE:QXO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 negative net margin of 6.02% and a positive return on equity of 1.91%. The company’s revenue for the quarter was up 12716.3% on a year-over-year basis. Analysts predict that QXO, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stephens reduced their price target on shares of QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Robert W. Baird decreased their price target on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. 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. Royal Bank Of Canada dropped their price objective 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. Finally, Citigroup cut their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Fifteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.14.

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.