Gabelli Funds LLC grew its position in shares of Colfax Corp (NYSE:CFX) by 73.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,000 shares of the industrial products company’s stock after purchasing an additional 50,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.10% of Colfax worth $3,429,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Veritable L.P. grew its stake in Colfax by 6.4% in the 2nd quarter. Veritable L.P. now owns 12,648 shares of the industrial products company’s stock valued at $355,000 after acquiring an additional 762 shares during the period. Parallel Advisors LLC grew its stake in Colfax by 176.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 799 shares during the period. Arizona State Retirement System grew its stake in Colfax by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 69,110 shares of the industrial products company’s stock valued at $1,937,000 after acquiring an additional 860 shares during the period. CenturyLink Investment Management Co grew its stake in Colfax by 2.3% in the 2nd quarter. CenturyLink Investment Management Co now owns 42,239 shares of the industrial products company’s stock valued at $1,184,000 after acquiring an additional 934 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in Colfax by 9.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 14,410 shares of the industrial products company’s stock valued at $404,000 after acquiring an additional 1,241 shares during the period. 95.79% of the stock is owned by hedge funds and other institutional investors.
CFX traded down $0.12 on Friday, hitting $34.17. 1,163,886 shares of the company’s stock were exchanged, compared to its average volume of 1,819,611. Colfax Corp has a fifty-two week low of $18.95 and a fifty-two week high of $36.63. The company has a current ratio of 2.32, a quick ratio of 1.94 and a debt-to-equity ratio of 1.32. The firm has a 50-day moving average price of $30.36 and a 200-day moving average price of $28.00. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 2.70 and a beta of 1.63.
Colfax (NYSE:CFX) last announced its earnings results on Thursday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. Colfax had a negative net margin of 12.40% and a positive return on equity of 9.06%. The company had revenue of $846.52 million for the quarter, compared to analysts’ expectations of $852.39 million. During the same quarter in the previous year, the company posted $0.22 EPS. The firm’s quarterly revenue was up 61.5% on a year-over-year basis. On average, equities analysts predict that Colfax Corp will post 1.98 EPS for the current year.
A number of equities research analysts recently issued reports on CFX shares. Raymond James reissued an “outperform” rating and issued a $18.00 price target on shares of Colfax in a research note on Thursday, October 24th. Scotiabank raised shares of Colfax to a “sector outperform” rating in a research note on Thursday, September 26th. Seaport Global Securities reaffirmed a “buy” rating on shares of Colfax in a research note on Monday, August 12th. Bank of America raised shares of Colfax from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $27.00 to $37.00 in a research note on Monday, November 4th. Finally, Royal Bank of Canada lowered their target price on shares of Colfax from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Colfax currently has a consensus rating of “Buy” and a consensus price target of $27.65.
In other news, SVP Shyam Kambeyanda sold 4,100 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $36.06, for a total transaction of $147,846.00. Following the transaction, the senior vice president now owns 47,163 shares of the company’s stock, valued at approximately $1,700,697.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.00% of the company’s stock.
Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.
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