QXO, Inc. $QXO Shares Bought by Costello Asset Management INC

Costello Asset Management INC lifted its stake in shares of QXO, Inc. (NYSE:QXO) by 87.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,110 shares of the company’s stock after acquiring an additional 111,340 shares during the period. QXO accounts for approximately 1.5% of Costello Asset Management INC’s portfolio, making the stock its 16th biggest holding. Costello Asset Management INC’s holdings in QXO were worth $4,557,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QXO. American Capital Advisory LLC lifted its holdings in QXO by 258.0% in the 2nd quarter. American Capital Advisory LLC now owns 1,167 shares of the company’s stock valued at $25,000 after purchasing an additional 841 shares in the last quarter. Bogart Wealth LLC acquired a new stake in QXO during the third quarter worth approximately $25,000. Allworth Financial LP grew its stake in QXO by 1,740.9% in the 2nd quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock worth $26,000 after acquiring an additional 1,149 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in QXO in the 2nd quarter valued at $28,000. Finally, Russell Investments Group Ltd. acquired a new position in QXO in the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 58.68% of the company’s stock.

QXO Stock Performance

NYSE QXO opened at $23.33 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.06 and a quick ratio of 2.24. QXO, Inc. has a 1-year low of $11.85 and a 1-year high of $26.24. The firm has a market capitalization of $15.74 billion, a P/E ratio of -53.02, a P/E/G ratio of 2.83 and a beta of 2.55. The business’s 50-day simple moving average is $22.37 and its 200-day simple moving average is $20.41.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on QXO shares. Truist Financial decreased their price objective on QXO from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, December 19th. William Blair reiterated an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Weiss Ratings restated a “sell (d+)” rating on shares of QXO in a report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of QXO in a research note on Friday, January 16th. Finally, Royal Bank Of Canada set a $30.00 target price on shares of QXO in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, QXO presently has an average rating of “Moderate Buy” and a consensus price target of $32.43.

QXO Company 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.