GW Henssler & Associates Ltd. Cuts Holdings in QXO, Inc. $QXO

GW Henssler & Associates Ltd. trimmed its holdings in shares of QXO, Inc. (NYSE:QXO) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 581,040 shares of the company’s stock after selling 72,091 shares during the period. GW Henssler & Associates Ltd. owned approximately 0.09% of QXO worth $11,208,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Peapack Gladstone Financial Corp boosted its stake in shares of QXO by 4.0% in the 4th quarter. Peapack Gladstone Financial Corp now owns 91,400 shares of the company’s stock worth $1,763,000 after buying an additional 3,550 shares during the last quarter. Norges Bank bought a new position in QXO in the 4th quarter worth $140,421,000. Eurizon Capital SGR S.p.A. bought a new position in QXO in the 4th quarter worth $297,000. Northwestern Mutual Wealth Management Co. raised its holdings in QXO by 11,448.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,118 shares of the company’s stock worth $60,000 after purchasing an additional 3,091 shares during the period. Finally, Huntington National Bank raised its holdings in QXO by 69.2% in the 4th quarter. Huntington National Bank now owns 11,000 shares of the company’s stock worth $212,000 after purchasing an additional 4,500 shares during the period. 58.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on QXO. Wall Street Zen raised QXO from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Benchmark reissued a “buy” rating on shares of QXO in a report on Friday, February 20th. Royal Bank Of Canada cut their price objective on QXO from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, April 6th. Oppenheimer lifted their price target on QXO from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, KeyCorp lifted their price target on QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Sixteen equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

QXO Stock Performance

Shares of NYSE:QXO opened at $16.78 on Tuesday. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of -18.44, a price-to-earnings-growth ratio of 4.42 and a beta of 2.30. QXO, Inc. has a 52 week low of $15.50 and a 52 week high of $27.61. The company has a quick ratio of 2.47, a current ratio of 3.33 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $19.46 and a 200 day moving average of $21.08.

QXO (NYSE:QXO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.73 billion. QXO had a positive return on equity of 1.91% and a negative net margin of 6.02%.QXO’s revenue for the quarter was up 12716.3% compared to the same quarter last year. On average, sell-side analysts predict that QXO, Inc. will post 0.2 earnings per share 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.