QXO, Inc. $QXO is Madrone Advisors LLC’s 3rd Largest Position

Madrone Advisors LLC decreased its position in QXO, Inc. (NYSE:QXO) by 46.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,115,198 shares of the company’s stock after selling 4,426,196 shares during the period. QXO accounts for about 6.1% of Madrone Advisors LLC’s portfolio, making the stock its 3rd largest position. Madrone Advisors LLC’s holdings in QXO were worth $98,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fred Alger Management LLC purchased a new stake in shares of QXO during the third quarter worth about $173,053,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of QXO by 748.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 877,538 shares of the company’s stock worth $16,928,000 after purchasing an additional 774,138 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of QXO by 16,117.6% during the fourth quarter. Baillie Gifford & Co. now owns 14,735,164 shares of the company’s stock worth $284,241,000 after purchasing an additional 14,644,305 shares in the last quarter. JNBA Financial Advisors purchased a new stake in shares of QXO during the fourth quarter worth about $992,000. Finally, Neuberger Berman Group LLC increased its stake in shares of QXO by 36.0% during the third quarter. Neuberger Berman Group LLC now owns 1,108,631 shares of the company’s stock worth $21,131,000 after purchasing an additional 293,351 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QXO shares. Citigroup cut their target price on shares of QXO from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Robert W. Baird cut their target price on shares of QXO from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Benchmark reissued a “buy” rating on shares of QXO in a research note on Friday, February 20th. KeyCorp boosted their target price on shares of QXO from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, BNP Paribas Exane started coverage on shares of QXO in a research note on Monday, March 16th. They set an “outperform” rating and a $30.00 target price for the company. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, QXO has a consensus rating of “Moderate Buy” and a consensus price target of $31.14.

QXO Stock Down 0.2%

Shares of NYSE QXO opened at $16.60 on Monday. QXO, Inc. has a 12-month low of $14.75 and a 12-month high of $27.61. The stock has a market cap of $12.04 billion, a PE ratio of -18.25, a P/E/G ratio of 4.26 and a beta of 2.30. The company has a current ratio of 3.33, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $18.85 and a 200 day moving average of $21.01.

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

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.