Charles Schwab Investment Management Inc. Has $10.86 Million Stock Holdings in DXP Enterprises, Inc. $DXPE

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in DXP Enterprises by 12.4%, holding approximately $10.86 million in stock after selling 18,698 shares in the first quarter.
• DXP Enterprises reported a quarterly EPS of $1.43, surpassing the consensus estimate of $1.39, with revenues of $498.68 million.
• Insider sales included a 2,000 share transaction by SVP John Jay Jeffery, valued at $240,500, reflecting a 7.69% decrease in his ownership.

Charles Schwab Investment Management Inc. cut its stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,055 shares of the industrial products company's stock after selling 18,698 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.84% of DXP Enterprises worth $10,863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Federated Hermes Inc. increased its stake in shares of DXP Enterprises by 11.3% in the first quarter. Federated Hermes Inc. now owns 12,486 shares of the industrial products company's stock worth $1,027,000 after acquiring an additional 1,266 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of DXP Enterprises by 18.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,856 shares of the industrial products company's stock worth $399,000 after acquiring an additional 743 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of DXP Enterprises in the first quarter worth $791,000. Diversify Advisory Services LLC acquired a new position in shares of DXP Enterprises in the first quarter worth $766,000. Finally, Jennison Associates LLC acquired a new position in shares of DXP Enterprises in the first quarter worth $629,000. 74.82% of the stock is owned by institutional investors and hedge funds.

DXP Enterprises Trading Up 7.5%

DXP Enterprises stock opened at $124.89 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.79 and a quick ratio of 2.33. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 23.83 and a beta of 1.25. DXP Enterprises, Inc. has a one year low of $45.81 and a one year high of $126.60. The company's fifty day moving average price is $100.65 and its two-hundred day moving average price is $90.86.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.39 by $0.04. The firm had revenue of $498.68 million for the quarter, compared to the consensus estimate of $499.00 million. DXP Enterprises had a net margin of 4.52% and a return on equity of 20.94%. On average, analysts forecast that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In other DXP Enterprises news, SVP John Jay Jeffery sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $120.25, for a total transaction of $240,500.00. Following the transaction, the senior vice president directly owned 24,008 shares of the company's stock, valued at $2,886,962. This represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Paz Maestas sold 5,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $120.11, for a total transaction of $600,550.00. Following the transaction, the chief marketing officer directly owned 600,737 shares in the company, valued at $72,154,521.07. The trade was a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,938 shares of company stock valued at $5,880,781. Corporate insiders own 22.40% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $95.00.

About DXP Enterprises

DXP Enterprises, Inc, together with its subsidiaries, engages in distributing maintenance, repair, and operating (MRO) products, equipment, and services in the United States and Canada. It operates through three segments: Service Centers (SC), Supply Chain Services (SCS), and Innovative Pumping Solutions (IPS).

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