Pictet Asset Management Holding SA Takes Position in DXP Enterprises, Inc. (NASDAQ:DXPE)

Pictet Asset Management Holding SA acquired a new position in DXP Enterprises, Inc. (NASDAQ:DXPE) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,634 shares of the industrial products company’s stock, valued at approximately $218,000.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of DXP Enterprises by 355.4% in the third quarter. Barclays PLC now owns 23,723 shares of the industrial products company’s stock valued at $1,267,000 after purchasing an additional 18,514 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of DXP Enterprises by 193.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,044 shares of the industrial products company’s stock worth $5,232,000 after purchasing an additional 64,611 shares during the last quarter. Prudential Financial Inc. lifted its stake in DXP Enterprises by 96.2% in the 4th quarter. Prudential Financial Inc. now owns 26,105 shares of the industrial products company’s stock valued at $2,157,000 after buying an additional 12,800 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in DXP Enterprises during the 4th quarter valued at $1,037,000. Finally, Intech Investment Management LLC purchased a new position in DXP Enterprises during the fourth quarter worth $447,000. 74.82% of the stock is owned by institutional investors and hedge funds.

DXP Enterprises Trading Up 1.3 %

Shares of DXPE opened at $79.14 on Friday. DXP Enterprises, Inc. has a fifty-two week low of $43.25 and a fifty-two week high of $107.06. The stock has a fifty day moving average of $87.47 and a two-hundred day moving average of $78.32. 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 company has a market capitalization of $1.24 billion, a PE ratio of 20.40 and a beta of 1.29.

DXP Enterprises (NASDAQ:DXPE) last issued its quarterly earnings results on Thursday, March 6th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.49. DXP Enterprises had a return on equity of 18.74% and a net margin of 3.75%. The firm had revenue of $470.91 million for the quarter, compared to analyst estimates of $447.00 million. As a group, analysts forecast that DXP Enterprises, Inc. will post 4.07 EPS for the current year.

Insider Activity at DXP Enterprises

In related news, CFO Kent Nee Hung Yee sold 3,457 shares of DXP Enterprises stock in a transaction 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 transaction, the chief financial officer now owns 68,849 shares in the company, valued at approximately $6,088,317.07. This trade represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David R. Little purchased 5,999 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were purchased at an average price 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 $104,002,941.10. The trade was a 0.48 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 12,785 shares of company stock worth $1,139,818. 22.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DXPE. Stephens upped their price objective on DXP Enterprises from $75.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. StockNews.com cut shares of DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Thursday.

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).