QXO Inc. Makes Significant Moves: New Investments and Potential Acquisition of Beacon Roofing

QXO Inc. (NASDAQ: QXO) has been in the spotlight with several significant developments in recent days. Claro Advisors LLC has made a new investment in the company, acquiring 38,782 shares of QXO’s stock valued at approximately $612,000 during the third quarter, according to its latest 13F filing with the SEC.

In addition to Claro Advisors, other institutional investors have also made substantial investments in QXO. Allspring Global Investments Holdings LLC purchased a new position worth about $42,593,000, while Driehaus Capital Management LLC and Millennium Management LLC bought stakes valued at $160,859,000 and $159,247,000, respectively, in the second quarter. Wealth Enhancement Advisory Services LLC and Jade Capital Advisors LLC also acquired new positions in the third quarter, valued at $934,000 and $473,000, respectively.

QXO’s stock has seen a recent uptick, trading up $0.54 on Monday to hit $15.94, with a trading volume of 2,038,783 shares, significantly higher than its average volume of 999,703. The company has a market cap of $6.53 billion and a price-to-earnings ratio of -1.69.

In other news, QXO is reportedly in talks to acquire Beacon Roofing Supply (BECN). According to a report by The Wall Street Journal, QXO has made an offer to buy Beacon Roofing, and a deal could be finalized before the end of the year, although the exact terms of the offer are not yet known. The sources cautioned that the talks could still fall apart.

This potential acquisition follows QXO’s role as a business application, technology, and consulting company in North America, providing solutions in areas such as accounting, financial reporting, enterprise resource planning, and customer relationship management.