QXO, Inc. $QXO Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in QXO, Inc. (NYSE:QXO) by 22.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 796,397 shares of the company’s stock after selling 229,719 shares during the quarter. California Public Employees Retirement System’s holdings in QXO were worth $15,466,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of QXO. Arax Advisory Partners purchased a new position in QXO during the fourth quarter worth approximately $25,000. LRI Investments LLC grew its holdings in QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock valued at $29,000 after purchasing an additional 835 shares during the period. Root Financial Partners LLC increased its position in shares of QXO by 73,350.0% in the first quarter. Root Financial Partners LLC now owns 1,469 shares of the company’s stock valued at $29,000 after buying an additional 1,467 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of QXO by 57.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,575 shares of the company’s stock valued at $30,000 after buying an additional 575 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of QXO in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QXO. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Oppenheimer boosted their price target on shares of QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. KeyCorp cut their price target on shares of QXO from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. Royal Bank Of Canada restated an “outperform” rating and set a $27.00 price objective on shares of QXO in a research report on Friday, July 10th. Finally, Robert W. Baird decreased their price objective on shares of QXO from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Fifteen analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.57.

QXO Stock Performance

QXO stock opened at $13.84 on Friday. The firm has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $20.06. QXO, Inc. has a 1-year low of $13.37 and a 1-year high of $27.61. 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 stock has a market cap of $10.03 billion, a price-to-earnings ratio of -15.20, a price-to-earnings-growth ratio of 3.55 and a beta of 2.23.

QXO (NYSE:QXO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.12) 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 analysts’ expectations of $1.73 billion. QXO had a negative net margin of 6.02% and a positive return on equity of 1.91%. The firm’s revenue was up 12716.3% on a year-over-year basis. On average, analysts expect that QXO, Inc. will post 0.2 EPS for the current year.

QXO 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.