Invesco Ltd. Reduces Stock Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

Invesco Ltd. reduced its stake in shares of DXP Enterprises, Inc. (NASDAQ:DXPE - Free Report) by 19.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 228,766 shares of the industrial products company's stock after selling 53,642 shares during the period. Invesco Ltd. owned approximately 1.46% of DXP Enterprises worth $18,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wellington Management Group LLP purchased a new position in DXP Enterprises during the fourth quarter valued at approximately $67,901,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of DXP Enterprises by 2,589.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 149,349 shares of the industrial products company's stock valued at $12,339,000 after purchasing an additional 143,795 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of DXP Enterprises by 193.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company's stock valued at $5,232,000 after purchasing an additional 64,611 shares during the period. 272 Capital LP purchased a new stake in DXP Enterprises during the third quarter worth $1,380,000. Finally, Trexquant Investment LP acquired a new stake in DXP Enterprises during the fourth quarter valued at $1,644,000. Institutional investors and hedge funds own 74.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DXPE. StockNews.com upgraded shares of DXP Enterprises from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Stephens upped their price target on DXP Enterprises from $75.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, March 10th.

Insiders Place Their Bets

In other news, CEO David R. Little purchased 5,999 shares of the stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of $82.70 per share, with a total value of $496,117.30. Following the completion of the purchase, the chief executive officer now directly owns 1,257,593 shares of the company's stock, valued at approximately $104,002,941.10. The trade was a 0.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kent Nee Hung Yee sold 3,457 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $88.43, for a total value of $305,702.51. Following the sale, the chief financial officer now owns 68,849 shares of the company's stock, valued at $6,088,317.07. The trade was a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,785 shares of company stock worth $1,139,818. Corporate insiders own 22.40% of the company's stock.

DXP Enterprises Price Performance

DXP Enterprises stock traded up $1.76 during trading on Thursday, reaching $82.66. The company had a trading volume of 12,176 shares, compared to its average volume of 160,379. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.78 and a current ratio of 2.22. The firm's 50-day simple moving average is $83.97 and its 200 day simple moving average is $79.65. The firm has a market capitalization of $1.30 billion, a PE ratio of 21.38 and a beta of 1.29. DXP Enterprises, Inc. has a 1-year low of $43.25 and a 1-year high of $107.06.

DXP Enterprises (NASDAQ:DXPE - Get Free Report) last announced its earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.49. DXP Enterprises had a net margin of 3.75% and a return on equity of 18.74%. The business had revenue of $470.91 million for the quarter, compared to analyst estimates of $447.00 million. As a group, equities research analysts anticipate that DXP Enterprises, Inc. will post 4.07 earnings per share 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).