Bank of New York Mellon Corp Buys 393,126 Shares of QXO, Inc. (NASDAQ:QXO)

Bank of New York Mellon Corp increased its position in QXO, Inc. (NASDAQ:QXO - Free Report) by 685.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,467 shares of the company's stock after buying an additional 393,126 shares during the period. Bank of New York Mellon Corp owned 0.11% of QXO worth $7,162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QXO. Finepoint Capital LP acquired a new position in QXO during the third quarter worth $406,090,000. Geode Capital Management LLC raised its holdings in shares of QXO by 64,992.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,853,653 shares of the company's stock worth $45,019,000 after acquiring an additional 2,849,269 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in QXO in the 3rd quarter valued at about $32,559,000. Charles Schwab Investment Management Inc. acquired a new position in QXO during the 3rd quarter valued at about $24,130,000. Finally, State Street Corp bought a new stake in QXO during the 3rd quarter worth approximately $16,245,000. 58.68% of the stock is owned by institutional investors.

QXO Stock Performance

Shares of QXO stock traded up $0.15 on Wednesday, hitting $13.14. The company had a trading volume of 1,489,719 shares, compared to its average volume of 2,022,339. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of -1.44, a P/E/G ratio of 4.09 and a beta of 2.35. The stock has a 50 day moving average of $13.48 and a 200-day moving average of $14.81. QXO, Inc. has a 1 year low of $10.61 and a 1 year high of $290.00.

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QXO 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.