Invesco Ltd. Acquires 51,664 Shares of 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 holdings in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 22.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,430 shares of the industrial products company's stock after purchasing an additional 51,664 shares during the quarter. Invesco Ltd. owned approximately 1.79% of DXP Enterprises worth $23,068,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of DXP Enterprises by 32.2% during the first quarter. CWM LLC now owns 1,487 shares of the industrial products company's stock worth $122,000 after buying an additional 362 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of DXP Enterprises during the fourth quarter worth $159,000. Hsbc Holdings PLC acquired a new stake in shares of DXP Enterprises during the fourth quarter worth $208,000. Janney Montgomery Scott LLC acquired a new stake in shares of DXP Enterprises during the first quarter worth $210,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in DXP Enterprises by 3,657.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 2,856 shares of the industrial products company's stock valued at $235,000 after purchasing an additional 2,780 shares during the period. Institutional investors and hedge funds own 74.82% of the company's stock.

Analyst Upgrades and Downgrades

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, Based on data from MarketBeat.com, DXP Enterprises presently has a consensus rating of "Buy" and a consensus target price of $95.00.

Insider Buying and Selling

In other news, COO Nicholas Little sold 45,938 shares of the 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 completion of the sale, the chief operating officer owned 812,328 shares of the company's stock, valued at approximately $71,265,535.44. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $600,550.00. Following the completion of the transaction, the chief marketing officer owned 600,737 shares of the company's stock, valued at approximately $72,154,521.07. This trade represents a 0.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 62,938 shares of company stock worth $5,880,781. 22.40% of the stock is owned by company insiders.

DXP Enterprises Trading Down 0.4%

Shares of DXP Enterprises stock traded down $0.50 on Monday, reaching $124.39. 55,551 shares of the company's stock were exchanged, compared to its average volume of 186,404. DXP Enterprises, Inc. has a 52 week low of $45.81 and a 52 week high of $126.60. The company has a market capitalization of $1.95 billion, a P/E ratio of 23.74 and a beta of 1.25. The firm's 50-day moving average is $100.65 and its two-hundred day moving average is $90.86. 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 announced its earnings results on Wednesday, August 6th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.04. DXP Enterprises had a return on equity of 20.94% and a net margin of 4.52%.The firm had revenue of $498.68 million during the quarter, compared to analyst estimates of $499.00 million. Sell-side analysts predict that DXP Enterprises, Inc. will post 4.07 EPS for the current fiscal year.

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).