Wells Fargo & Company MN increased its position in shares of Colfax Corp (NYSE:CFX) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,927 shares of the industrial products company’s stock after purchasing an additional 33,613 shares during the period. Wells Fargo & Company MN owned 0.31% of Colfax worth $13,159,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Colfax during the second quarter worth approximately $129,000. BNP Paribas Arbitrage SA increased its holdings in shares of Colfax by 182.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock valued at $149,000 after buying an additional 3,150 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Colfax in the second quarter valued at $231,000. PNC Financial Services Group Inc. increased its holdings in shares of Colfax by 31.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock valued at $247,000 after buying an additional 1,917 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC bought a new position in shares of Colfax in the second quarter valued at $288,000. 81.24% of the stock is currently owned by hedge funds and other institutional investors.
In other Colfax news, CEO Ian Brander sold 3,232 shares of Colfax stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $26.18, for a total transaction of $84,613.76. Following the transaction, the chief executive officer now directly owns 26,136 shares in the company, valued at approximately $684,240.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jason Maclean sold 1,120 shares of Colfax stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $29.06, for a total transaction of $32,547.20. Following the transaction, the senior vice president now owns 9,716 shares in the company, valued at $282,346.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,892 shares of company stock worth $183,658. Corporate insiders own 10.20% of the company’s stock.
NYSE CFX opened at $23.05 on Friday. Colfax Corp has a twelve month low of $22.89 and a twelve month high of $42.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.37 and a current ratio of 1.83. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.75 and a beta of 1.53.
Colfax (NYSE:CFX) last posted its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. Colfax had a net margin of 3.03% and a return on equity of 6.97%. The firm had revenue of $875.37 million for the quarter, compared to analysts’ expectations of $893.38 million. As a group, equities analysts expect that Colfax Corp will post 2.25 earnings per share for the current year.
Several research analysts have issued reports on the company. Oppenheimer reaffirmed a “buy” rating on shares of Colfax in a report on Monday, November 19th. Morgan Stanley dropped their price target on Colfax from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Tuesday, October 30th. Robert W. Baird reaffirmed a “buy” rating and issued a $35.00 price target on shares of Colfax in a report on Monday, October 29th. Argus dropped their price target on Colfax from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Finally, Deutsche Bank set a $30.00 price target on Colfax and gave the company a “hold” rating in a report on Friday, October 26th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Colfax has a consensus rating of “Hold” and an average price target of $34.77.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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