Future Financial Wealth Managment LLC Buys Shares of 7,000 QXO, Inc. $QXO

Future Financial Wealth Managment LLC bought a new stake in shares of QXO, Inc. (NYSE:QXO) during the second quarter, Holdings Channel reports. The fund bought 7,000 shares of the company’s stock, valued at approximately $151,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in QXO by 146.1% during the first quarter. Vanguard Group Inc. now owns 24,707,435 shares of the company’s stock valued at $334,539,000 after buying an additional 14,667,571 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 purchased a new position in QXO during the first quarter valued at approximately $118,142,000. Catawba River Capital purchased a new position in shares of QXO in the 1st quarter valued at $6,635,000. Pacer Advisors Inc. purchased a new position in shares of QXO in the 1st quarter valued at $6,534,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of QXO in the 2nd quarter valued at $3,980,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Wall Street Analyst Weigh In

QXO has been the topic of a number of analyst reports. Royal Bank Of Canada began coverage on QXO in a research note on Monday, July 21st. They issued an “outperform” rating and a $33.00 target price on the stock. Robert W. Baird began coverage on shares of QXO in a research report on Thursday, June 12th. They issued an “outperform” rating and a $32.00 price objective on the stock. William Blair began coverage on shares of QXO in a research report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Morgan Stanley started coverage on shares of QXO in a research report on Tuesday, September 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. Finally, Truist Financial started coverage on shares of QXO in a report on Tuesday, July 1st. They issued a “buy” rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

QXO Price Performance

Shares of QXO stock opened at $20.24 on Friday. QXO, Inc. has a fifty-two week low of $11.85 and a fifty-two week high of $24.69. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of -96.35, a PEG ratio of 2.67 and a beta of 2.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. The stock’s 50-day simple moving average is $20.29 and its 200-day simple moving average is $18.24.

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.