17,258 Shares in DXP Enterprises, Inc. (NASDAQ:DXPE) Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. invested approximately $1.42 million in DXP Enterprises, acquiring 17,258 shares and holding about 0.11% of the company as of the end of the first quarter.
• Institutional investors collectively own 74.82% of DXP Enterprises, indicating strong support from larger financial entities, with notable transactions from several hedge funds in the past quarter.
• DXP Enterprises' shares saw a decline on the trading day, closing at $110.02, while the company reported a quarterly earnings per share of $1.26, exceeding analysts' expectations.

Envestnet Asset Management Inc. bought a new stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 17,258 shares of the industrial products company's stock, valued at approximately $1,420,000. Envestnet Asset Management Inc. owned approximately 0.11% of DXP Enterprises as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in DXPE. Raymond James Financial Inc. acquired a new stake in shares of DXP Enterprises during the 4th quarter valued at about $1,037,000. KLP Kapitalforvaltning AS acquired a new stake in shares of DXP Enterprises during the 4th quarter valued at about $231,000. Prudential Financial Inc. boosted its position in shares of DXP Enterprises by 96.2% during the 4th quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company's stock valued at $2,157,000 after acquiring an additional 12,800 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of DXP Enterprises by 26.5% during the 4th quarter. JPMorgan Chase & Co. now owns 123,986 shares of the industrial products company's stock valued at $10,244,000 after acquiring an additional 25,942 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of DXP Enterprises during the 4th quarter valued at about $669,000. 74.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CMO Paz Maestas sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $79.09, for a total transaction of $237,270.00. Following the transaction, the chief marketing officer directly owned 607,737 shares in the company, valued at approximately $48,065,919.33. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Nicholas Little sold 45,938 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $87.73, for a total transaction of $4,030,140.74. Following the transaction, the chief operating officer owned 812,328 shares in the company, valued at $71,265,535.44. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,938 shares of company stock worth $4,690,731 over the last quarter. 22.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, May 16th.

DXP Enterprises Price Performance

NASDAQ:DXPE traded up $2.45 on Monday, reaching $112.47. The stock had a trading volume of 31,826 shares, compared to its average volume of 185,801. The company has a market capitalization of $1.76 billion, a P/E ratio of 23.32 and a beta of 1.25. DXP Enterprises, Inc. has a 1-year low of $45.00 and a 1-year high of $115.00. The company has a quick ratio of 2.25, a current ratio of 2.70 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average price of $90.29 and a 200-day moving average price of $89.43.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.06. The firm had revenue of $476.57 million for the quarter, compared to analyst estimates of $477.00 million. DXP Enterprises had a net margin of 4.27% and a return on equity of 20.41%. Research analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

DXP Enterprises Company Profile

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).