DXP Enterprises, Inc. $DXPE Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in DXP Enterprises, Inc. (NASDAQ:DXPE) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,801 shares of the industrial products company’s stock after selling 3,575 shares during the period. Principal Financial Group Inc. owned about 0.46% of DXP Enterprises worth $8,549,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DXPE. TD Waterhouse Canada Inc. acquired a new position in DXP Enterprises in the third quarter worth approximately $58,000. Federated Hermes Inc. grew its position in DXP Enterprises by 1.4% in the third quarter. Federated Hermes Inc. now owns 12,726 shares of the industrial products company’s stock worth $1,515,000 after acquiring an additional 179 shares in the last quarter. Trek Financial LLC acquired a new position in shares of DXP Enterprises during the 3rd quarter worth $538,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of DXP Enterprises during the 3rd quarter valued at $327,000. Finally, Intrua Financial LLC acquired a new stake in shares of DXP Enterprises in the 3rd quarter valued at $1,848,000. 74.82% of the stock is owned by institutional investors and hedge funds.

DXP Enterprises Trading Up 4.3%

DXP Enterprises stock opened at $148.55 on Friday. DXP Enterprises, Inc. has a 52 week low of $67.68 and a 52 week high of $154.19. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.36 and a current ratio of 2.77. The firm has a market capitalization of $2.33 billion, a PE ratio of 28.13 and a beta of 1.00. The business’s 50-day simple moving average is $121.05 and its 200-day simple moving average is $115.87.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DXPE shares. Weiss Ratings reissued a “buy (b-)” rating on shares of DXP Enterprises in a research report on Monday, December 29th. Wall Street Zen downgraded DXP Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $95.00.

DXP Enterprises Profile

DXP Enterprises, Inc is a Houston, Texas–based industrial products and services distributor serving customers across North America. The company provides a broad portfolio of maintenance, repair and operations (MRO) supplies, including fluid power components, safety products, mechanical power transmission parts, and instrumentation. DXP’s product offering spans well-recognized private brands as well as equipment and parts from leading global manufacturers, enabling clients in energy, heavy industrial and manufacturing sectors to source critical components from a single supplier.

Through its network of service centers and specialized repair facilities, DXP delivers inventory management programs, turnkey fluid power rebuilds and custom assembly solutions.