Fort Washington Investment Advisors Inc. OH Acquires Shares of 737,718 QXO, Inc. $QXO

Fort Washington Investment Advisors Inc. OH bought a new position in QXO, Inc. (NYSE:QXO) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 737,718 shares of the company’s stock, valued at approximately $14,326,000. Fort Washington Investment Advisors Inc. OH owned 0.10% of QXO at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in QXO. Baillie Gifford & Co. lifted its position in shares of QXO by 16,117.6% in the 4th quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock valued at $284,241,000 after acquiring an additional 14,644,305 shares in the last quarter. MTCO Ltd. purchased a new position in QXO during the 3rd quarter worth approximately $208,534,000. Fred Alger Management LLC purchased a new position in QXO during the 3rd quarter worth approximately $173,053,000. Schf GPE LLC raised its stake in QXO by 204.3% during the 2nd quarter. Schf GPE LLC now owns 13,319,457 shares of the company’s stock valued at $286,901,000 after purchasing an additional 8,943,089 shares during the period. Finally, Norges Bank acquired a new stake in QXO during the 4th quarter valued at $140,421,000. 58.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QXO has been the subject of a number of research analyst reports. Stephens reduced their target price on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Oppenheimer lifted their price target on QXO from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 27th. BNP Paribas Exane started coverage on QXO in a research report on Monday, March 16th. They set an “outperform” rating and a $30.00 price target on the stock. Robert W. Baird reduced their price objective on QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of QXO in a research report on Friday, May 29th. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.14.

QXO Price Performance

QXO opened at $17.73 on Monday. The stock has a fifty day moving average price of $18.11 and a 200 day moving average price of $20.86. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. QXO, Inc. has a 1 year low of $14.75 and a 1 year high of $27.61. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of -19.49, a PEG ratio of 4.56 and a beta of 2.30.

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