BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of IDEX Co. (NYSE:IEX) by 58.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,314 shares of the industrial products company’s stock after selling 27,698 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in IDEX were worth $2,439,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of IEX. Oregon Public Employees Retirement Fund lifted its position in IDEX by 10,176.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,856,591 shares of the industrial products company’s stock worth $38,000 after buying an additional 4,809,330 shares in the last quarter. Jennison Associates LLC bought a new stake in IDEX during the 4th quarter worth about $26,223,000. Capital Research Global Investors bought a new stake in IDEX during the 3rd quarter worth about $25,677,000. Gateway Investment Advisers LLC lifted its position in IDEX by 8,284.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 124,678 shares of the industrial products company’s stock worth $15,742,000 after buying an additional 123,191 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in IDEX by 155.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 162,790 shares of the industrial products company’s stock worth $20,552,000 after buying an additional 99,100 shares in the last quarter. 92.57% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Jeffrey D. Bucklew sold 2,255 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $143.02, for a total value of $322,510.10. Following the transaction, the senior vice president now owns 2,255 shares in the company, valued at approximately $322,510.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael J. Yates sold 11,397 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total transaction of $1,649,373.84. Following the completion of the transaction, the vice president now owns 26,590 shares in the company, valued at approximately $3,848,104.80. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Boenning Scattergood restated a “hold” rating on shares of IDEX in a research note on Wednesday, January 30th. Finally, Royal Bank of Canada upgraded shares of IDEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $141.00 to $146.00 in a research note on Thursday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $145.70.
IDEX stock opened at $147.72 on Friday. The stock has a market cap of $11.20 billion, a PE ratio of 27.30, a PEG ratio of 2.48 and a beta of 1.28. IDEX Co. has a fifty-two week low of $117.72 and a fifty-two week high of $157.84. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.43.
IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.04. The company had revenue of $614.09 million for the quarter, compared to analyst estimates of $617.72 million. IDEX had a net margin of 16.53% and a return on equity of 20.82%. IDEX’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. Research analysts expect that IDEX Co. will post 5.73 EPS for the current fiscal year.
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IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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