Invesco Ltd. Has $23.07 Million Stock Position in DXP Enterprises, Inc. $DXPE

Key Points

• Invesco Ltd. increased its stake in DXP Enterprises by 22.6%, acquiring an additional 51,664 shares, bringing its total ownership to 280,430 shares valued at approximately $23 million.
• Several institutional investors, including Wells Fargo and Russell Investments, made significant increases in their positions in DXP Enterprises during the previous quarter, indicating growing interest in the company.
• DXP Enterprises reported a better-than-expected earnings per share of $1.43, surpassing analysts' consensus estimate of $1.39, despite slightly missing revenue expectations.

Invesco Ltd. raised its stake in DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 22.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,430 shares of the industrial products company's stock after purchasing an additional 51,664 shares during the period. Invesco Ltd. owned approximately 1.79% of DXP Enterprises worth $23,068,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Townsquare Capital LLC bought a new stake in DXP Enterprises in the 1st quarter valued at $828,000. Rezny Wealth Management Inc. bought a new stake in DXP Enterprises in the 1st quarter valued at $1,447,000. Federated Hermes Inc. boosted its holdings in DXP Enterprises by 11.3% in the 1st quarter. Federated Hermes Inc. now owns 12,486 shares of the industrial products company's stock valued at $1,027,000 after purchasing an additional 1,266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in DXP Enterprises by 18.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,856 shares of the industrial products company's stock valued at $399,000 after purchasing an additional 743 shares during the period. Finally, Private Advisor Group LLC bought a new stake in DXP Enterprises in the 1st quarter valued at $791,000. 74.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

DXP Enterprises Price Performance

Shares of NASDAQ:DXPE traded up $1.77 during midday trading on Tuesday, reaching $125.40. 134,132 shares of the company's stock were exchanged, compared to its average volume of 185,670. The company's 50 day simple moving average is $102.50 and its two-hundred day simple moving average is $91.26. The firm has a market capitalization of $1.97 billion, a PE ratio of 23.93 and a beta of 1.25. DXP Enterprises, Inc. has a 12 month low of $45.81 and a 12 month high of $126.60. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.33 and a current ratio of 2.79.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.04. The company had revenue of $498.68 million during 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%. Equities research analysts expect that DXP Enterprises, Inc. will post 4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at DXP Enterprises

In related news, insider Christopher T. Gregory sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total transaction of $610,000.00. Following the completion of the sale, the insider owned 24,436 shares in the company, valued at $2,981,192. This trade represents a 16.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John Jay Jeffery sold 2,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $125.43, for a total transaction of $250,860.00. Following the sale, the senior vice president owned 20,008 shares of the company's stock, valued at $2,509,603.44. This trade represents a 9.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,337 shares of company stock worth $6,431,516 over the last ninety days. Company insiders own 22.40% of the company's stock.

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).