Public Sector Pension Investment Board Boosts Holdings in DXP Enterprises, Inc. $DXPE

Key Points

• The Public Sector Pension Investment Board increased its stake in DXP Enterprises, Inc. by 27.6% during the first quarter, owning approximately 0.26% of the company worth $3.32 million.
• Several institutional investors, including CWM LLC and Harbor Capital Advisors Inc., have also significantly altered their positions in DXP Enterprises, resulting in over 74.82% of the stock being held by institutional investors.
• Wall Street analysts downgraded DXP Enterprises from a "buy" to a "hold" rating, reflecting a cautious outlook on the company's performance.

Public Sector Pension Investment Board increased its position in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 27.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,367 shares of the industrial products company's stock after purchasing an additional 8,720 shares during the period. Public Sector Pension Investment Board owned approximately 0.26% of DXP Enterprises worth $3,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP purchased a new stake in DXP Enterprises in the fourth quarter worth $67,901,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in DXP Enterprises by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 720,320 shares of the industrial products company's stock valued at $59,513,000 after buying an additional 38,900 shares during the period. Invesco Ltd. boosted its position in DXP Enterprises by 22.6% in the 1st quarter. Invesco Ltd. now owns 280,430 shares of the industrial products company's stock valued at $23,068,000 after buying an additional 51,664 shares during the period. Northern Trust Corp boosted its position in DXP Enterprises by 10.2% in the 4th quarter. Northern Trust Corp now owns 228,940 shares of the industrial products company's stock valued at $18,915,000 after buying an additional 21,220 shares during the period. Finally, CastleKnight Management LP boosted its position in DXP Enterprises by 0.3% in the 4th quarter. CastleKnight Management LP now owns 117,300 shares of the industrial products company's stock valued at $9,691,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 74.82% of the company's stock.

Insider Buying and Selling at DXP Enterprises

In other news, insider Christopher T. Gregory sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $122.00, for a total value of $610,000.00. Following the completion of the sale, the insider owned 24,436 shares of the company's stock, valued at approximately $2,981,192. This represents a 16.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Paz Maestas sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief marketing officer directly owned 600,737 shares of the company's stock, valued at $72,154,521.07. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,938 shares of company stock worth $5,880,781 over the last quarter. 22.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of DXP Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. One equities research 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 price target of $95.00.

DXP Enterprises Trading Up 7.5%

DXP Enterprises stock traded up $8.70 during trading hours on Friday, hitting $124.89. The company had a trading volume of 255,595 shares, compared to its average volume of 192,581. The firm has a market cap of $1.96 billion, a P/E ratio of 23.83 and a beta of 1.25. 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, Inc. has a 1 year low of $45.81 and a 1 year high of $126.60. The company has a 50-day moving average price of $100.65 and a two-hundred day moving average price of $90.86.

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