State of New Jersey Common Pension Fund D Grows Holdings in QXO, Inc. $QXO

State of New Jersey Common Pension Fund D increased its holdings in QXO, Inc. (NYSE:QXO) by 13.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,311 shares of the company’s stock after acquiring an additional 22,164 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in QXO were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of QXO. American Capital Advisory LLC increased its stake in shares of QXO by 258.0% during the second 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 purchased a new stake in shares of QXO in the 3rd quarter worth approximately $25,000. Allworth Financial LP raised its stake in QXO by 1,740.9% during the second quarter. Allworth Financial LP now owns 1,215 shares of the company’s stock valued at $26,000 after buying an additional 1,149 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in QXO during the second quarter valued at $28,000. Finally, Russell Investments Group Ltd. bought a new stake in QXO in the second quarter worth $30,000. Institutional investors own 58.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on QXO. William Blair reaffirmed an “outperform” rating on shares of QXO in a research report on Wednesday, December 31st. Royal Bank Of Canada set a $30.00 price objective on shares of QXO in a research note on Friday, January 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of QXO in a research note on Monday, December 29th. Truist Financial reduced their price target on shares of QXO from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Finally, Oppenheimer boosted their price objective on shares of QXO from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, QXO currently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

QXO Stock Performance

Shares of QXO stock opened at $26.21 on Friday. The firm has a market capitalization of $17.68 billion, a PE ratio of -59.57, a P/E/G ratio of 3.33 and a beta of 2.55. The company has a 50 day moving average price of $23.24 and a 200-day moving average price of $20.72. QXO, Inc. has a 52 week low of $11.85 and a 52 week high of $27.61. The company has a quick ratio of 2.24, a current ratio of 3.06 and a debt-to-equity ratio of 0.37.

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.