200,000 Shares in QXO, Inc. $QXO Purchased by Troluce Capital Advisors LLC

Troluce Capital Advisors LLC purchased a new position in QXO, Inc. (NYSE:QXO) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $3,456,000. QXO makes up 0.4% of Troluce Capital Advisors LLC’s holdings, making the stock its 15th largest holding.

A number of other institutional investors also recently bought and sold shares of the business. Arax Advisory Partners acquired a new stake in QXO during the 4th quarter valued at approximately $25,000. LRI Investments LLC increased its stake in shares of QXO by 129.1% in the fourth quarter. LRI Investments LLC now owns 1,482 shares of the company’s stock worth $29,000 after acquiring an additional 835 shares during the period. Root Financial Partners LLC increased its stake 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 worth $29,000 after acquiring an additional 1,467 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of QXO during the second quarter worth $30,000. Finally, NewEdge Advisors LLC raised its holdings in shares of QXO by 42.4% during the fourth quarter. NewEdge Advisors LLC now owns 1,680 shares of the company’s stock worth $32,000 after purchasing an additional 500 shares during the last quarter. 58.68% of the stock is owned by hedge funds and other institutional investors.

QXO Stock Down 0.3%

Shares of QXO opened at $13.42 on Friday. The firm has a market cap of $13.92 billion, a P/E ratio of -14.91, a PEG ratio of 2.30 and a beta of 2.32. QXO, Inc. has a 12 month low of $12.80 and a 12 month high of $27.61. The stock’s 50 day moving average is $14.53 and its two-hundred day moving average is $17.96. The company has a current ratio of 4.11, a quick ratio of 3.29 and a debt-to-equity ratio of 0.66.

QXO (NYSE:QXO) last announced its earnings results on Thursday, August 13th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. QXO had a positive return on equity of 2.41% and a negative net margin of 5.17%.The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Analysts predict that QXO, Inc. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on QXO. Benchmark reaffirmed a “buy” rating on shares of QXO in a report on Friday, August 14th. Stephens reduced their price objective on QXO from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th. Morgan Stanley assumed coverage on QXO in a research note on Tuesday, August 4th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of QXO in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

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.