Wealth Enhancement Advisory Services LLC Trims Stock Holdings in QXO, Inc. $QXO

Wealth Enhancement Advisory Services LLC trimmed its holdings in QXO, Inc. (NYSE:QXO) by 79.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,107 shares of the company’s stock after selling 196,284 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in QXO were worth $986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bogart Wealth LLC bought a new position in QXO in the third quarter worth approximately $25,000. Russell Investments Group Ltd. bought a new position in QXO in the second quarter worth approximately $30,000. GAMMA Investing LLC bought a new position in QXO in the third quarter worth approximately $31,000. WPG Advisers LLC bought a new position in QXO in the third quarter worth approximately $35,000. Finally, Sentry Investment Management LLC bought a new position in QXO in the third quarter worth approximately $40,000. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

QXO Stock Down 0.1%

Shares of NYSE QXO opened at $19.01 on Tuesday. The company has a current ratio of 3.58, a quick ratio of 2.61 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $13.50 billion, a PE ratio of -32.23, a price-to-earnings-growth ratio of 3.04 and a beta of 2.50. The stock’s fifty day simple moving average is $22.32 and its two-hundred day simple moving average is $20.88. QXO, Inc. has a 12-month low of $11.97 and a 12-month high of $27.61.

QXO (NYSE:QXO) last announced its earnings results on Wednesday, February 25th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). QXO had a negative net margin of 4.08% and a positive return on equity of 3.45%. The firm’s revenue for the quarter was up 14725.0% on a year-over-year basis. As a group, analysts expect that QXO, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QXO has been the topic of several research analyst reports. Oppenheimer increased their price objective on QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Truist Financial dropped their price objective on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Wall Street Zen cut QXO from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. William Blair reissued an “outperform” rating on shares of QXO in a research note on Wednesday, December 31st. Finally, Royal Bank Of Canada dropped their price objective on QXO from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.13.

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.