DXP Enterprises, Inc. $DXPE Shares Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its DXP Enterprises stake by 21.7% in the third quarter, bringing its holdings to 64,015 shares valued at approximately $11.6 million. Institutional investors and hedge funds collectively own 74.82% of DXPE.
• Analyst sentiment remains positive, with an average rating of “Moderate Buy” and a consensus price target of $187. Stephens raised its target to $220 and maintained an overweight rating.
• DXPE shares opened at $191.65, down 2.1%, while the company’s latest quarterly results exceeded expectations: adjusted earnings were $1.76 per share versus the $1.59 consensus, and revenue reached $576.46 million.

Congress Asset Management Co. raised its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 21.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,015 shares of the industrial products company's stock after purchasing an additional 11,423 shares during the period. Congress Asset Management Co. owned 0.41% of DXP Enterprises worth $11,600,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DXPE. Bank of New York Mellon Corp purchased a new position in DXP Enterprises during the second quarter worth $13,566,000. First Trust Advisors LP lifted its position in shares of DXP Enterprises by 1.1% in the first quarter. First Trust Advisors LP now owns 68,634 shares of the industrial products company's stock valued at $9,590,000 after acquiring an additional 756 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of DXP Enterprises during the second quarter valued at $6,507,000. Odyssean LLC boosted its stake in shares of DXP Enterprises by 96.3% during the second quarter. Odyssean LLC now owns 17,000 shares of the industrial products company's stock valued at $2,869,000 after acquiring an additional 8,340 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in DXP Enterprises by 26.3% during the 1st quarter. California State Teachers Retirement System now owns 15,623 shares of the industrial products company's stock worth $2,183,000 after purchasing an additional 3,256 shares in the last quarter. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on DXPE. Stephens upped their target price on shares of DXP Enterprises from $160.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Weiss Ratings raised shares of DXP Enterprises from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 29th. Finally, Wall Street Zen downgraded shares of DXP Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 13th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $187.00.

DXP Enterprises Stock Down 2.1%

Shares of NASDAQ:DXPE opened at $191.65 on Wednesday. The stock's 50-day moving average price is $185.50 and its two-hundred day moving average price is $166.87. The company has a current ratio of 2.99, a quick ratio of 2.58 and a debt-to-equity ratio of 1.51. DXP Enterprises, Inc. has a 12-month low of $84.04 and a 12-month high of $208.00. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 33.74 and a beta of 1.03.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.59 by $0.17. DXP Enterprises had a net margin of 4.35% and a return on equity of 18.51%. The company had revenue of $576.46 million during the quarter, compared to the consensus estimate of $543.00 million.

DXP Enterprises Company Profile

DXP Enterprises, Inc is an industrial distribution and services company headquartered in Houston, Texas. The company supplies products and technical solutions used to maintain, repair and operate industrial facilities, with a focus on fluid-handling equipment and other critical components.

Its product offerings include pumps, valves, motors, bearings, power-transmission equipment, hoses, gaskets, safety products and other industrial supplies. DXP also provides engineered pumping systems, equipment repair, field services, technical support and supply-chain management solutions designed to help customers improve operating efficiency and reduce equipment downtime.

DXP serves customers across a range of industries, including energy, petrochemical, mining, food and beverage, water and wastewater, manufacturing and general industrial markets.

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