Advisors Capital Management LLC Grows Position in QXO, Inc. $QXO

Advisors Capital Management LLC boosted its stake in shares of QXO, Inc. (NYSE:QXO) by 6.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 685,019 shares of the company’s stock after acquiring an additional 39,177 shares during the period. Advisors Capital Management LLC owned 0.10% of QXO worth $13,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of QXO. Vanguard Group Inc. boosted its holdings in shares of QXO by 17.2% during the 3rd quarter. Vanguard Group Inc. now owns 55,323,743 shares of the company’s stock valued at $1,054,471,000 after purchasing an additional 8,131,331 shares during the last quarter. Affinity Partners GP LP lifted its position in shares of QXO by 99.1% in the second quarter. Affinity Partners GP LP now owns 32,671,542 shares of the company’s stock worth $703,745,000 after buying an additional 16,260,163 shares in the last quarter. Alpha Wave Global LP purchased a new stake in shares of QXO in the second quarter worth about $525,366,000. 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 valued at $286,901,000 after buying an additional 8,943,089 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in QXO during the 2nd quarter valued at approximately $178,836,000. 58.68% of the stock is currently owned by institutional investors.

QXO Trading Down 0.7%

QXO stock opened at $26.64 on Thursday. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37. QXO, Inc. has a twelve month low of $11.85 and a twelve month high of $27.61. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of -60.55, a price-to-earnings-growth ratio of 3.35 and a beta of 2.55. The firm’s fifty day simple moving average is $23.15 and its two-hundred day simple moving average is $20.68.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Loop Capital assumed coverage on QXO in a report on Thursday, December 11th. They set a “buy” rating and a $31.00 price objective on the stock. Oppenheimer boosted their price target on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Citigroup decreased their price target on shares of QXO from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Benchmark restated a “buy” rating on shares of QXO in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.43.

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.