Teacher Retirement System of Texas Invests $689,000 in QXO, Inc. (NASDAQ:QXO)

Teacher Retirement System of Texas acquired a new stake in QXO, Inc. (NASDAQ:QXO) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 50,878 shares of the company’s stock, valued at approximately $689,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL bought a new position in shares of QXO in the fourth quarter worth about $229,000. Barclays PLC acquired a new position in QXO during the 4th quarter worth approximately $1,168,000. Deutsche Bank AG bought a new position in QXO in the 4th quarter valued at approximately $255,000. Northern Trust Corp boosted its position in QXO by 46.9% in the fourth quarter. Northern Trust Corp now owns 731,610 shares of the company’s stock valued at $11,633,000 after buying an additional 233,538 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in QXO by 277.5% in the fourth quarter. Wells Fargo & Company MN now owns 29,159 shares of the company’s stock valued at $464,000 after buying an additional 21,435 shares in the last quarter. 58.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wolfe Research began coverage on shares of QXO in a report on Friday, June 6th. They set an “outperform” rating and a $44.00 price target for the company. Baird R W raised QXO to a “strong-buy” rating in a report on Thursday, June 12th. William Blair began coverage on QXO in a research report on Wednesday, June 18th. They issued an “outperform” rating for the company. Oppenheimer started coverage on QXO in a report on Wednesday, June 11th. They set an “outperform” rating and a $27.00 price target on the stock. Finally, Truist Financial initiated coverage on QXO in a research note on Tuesday, July 1st. They issued a “buy” rating and a $30.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.25.

QXO Stock Up 0.5%

Shares of QXO stock opened at $21.15 on Wednesday. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of -2.32, a P/E/G ratio of 4.09 and a beta of 2.41. QXO, Inc. has a twelve month low of $10.61 and a twelve month high of $157.28. The company’s fifty day moving average is $19.14 and its 200 day moving average is $15.55.

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.