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David R. Little, Chairman and CEO of DXP Enterprises Inc. (NASDAQ:DXPE), recently increased his holdings in the company. The timing appears strategic, as InvestingPro data shows DXP has delivered an impressive 54% return over the past year, with the stock currently trading at $82.93. According to a recent SEC filing, Little acquired 5,999 shares of DXP common stock at a price of $82.70 per share, totaling approximately $496,117. This transaction was part of an acquisition through his retirement plan.
In addition to this purchase, Little received a grant of 20,998 shares at $88.40 per share, valued at $1,856,223. The grant is set to vest in equal amounts over three years, beginning on the anniversary of the grant date. Following these transactions, Little’s direct ownership in DXP Enterprises now stands at 1,257,593 shares. The company, currently valued at $1.31 billion, maintains a GREAT financial health score according to InvestingPro analysis, which offers 8 additional key insights about DXPE’s performance and valuation.
In other recent news, DXP Enterprises reported strong financial results for the fourth quarter of 2024, surpassing earnings expectations with an earnings per share (EPS) of $1.38, significantly higher than the projected $0.86. The company’s revenue also exceeded forecasts, reaching $470.9 million compared to the anticipated $431 million. Despite the positive earnings report, the stock experienced a decline in after-hours trading. DXP Enterprises achieved a 7.4% growth in total fiscal 2024 sales, amounting to $1.8 billion, alongside a net income of $70.5 million. Analysts at Stephens raised their price target for DXP Enterprises to $95, maintaining an Overweight rating, influenced by the company’s strong financial performance and successful acquisition strategy. The company completed seven acquisitions in 2024 and plans to pursue additional acquisitions by mid-2025, aiming for an 11% adjusted EBITDA margin. DXP Enterprises’ diversified market approach, particularly its expansion into water and safety services, has been instrumental in its consistent growth and margin improvements.
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