Wells Fargo & Company MN increased its holdings in Colfax Corp (NYSE:CFX) by 16.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,880 shares of the industrial products company’s stock after purchasing an additional 53,744 shares during the period. Wells Fargo & Company MN owned 0.33% of Colfax worth $7,719,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hennessy Advisors Inc. purchased a new position in Colfax in the 1st quarter worth approximately $1,477,000. Mutual of America Capital Management LLC increased its stake in Colfax by 4.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 77,662 shares of the industrial products company’s stock worth $1,538,000 after acquiring an additional 3,388 shares during the last quarter. State Street Corp increased its stake in Colfax by 0.5% in the 1st quarter. State Street Corp now owns 2,067,605 shares of the industrial products company’s stock worth $40,939,000 after acquiring an additional 11,075 shares during the last quarter. Alliancebernstein L.P. increased its stake in Colfax by 3.3% in the 4th quarter. Alliancebernstein L.P. now owns 144,895 shares of the industrial products company’s stock worth $5,271,000 after acquiring an additional 4,680 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Colfax by 12.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 664,173 shares of the industrial products company’s stock worth $13,151,000 after acquiring an additional 72,854 shares during the last quarter. 99.99% of the stock is currently owned by institutional investors.
CFX opened at $26.25 on Tuesday. Colfax Corp has a 52-week low of $12.23 and a 52-week high of $39.30. The stock has a market cap of $3.11 billion, a P/E ratio of 12.32, a PEG ratio of 4.20 and a beta of 1.86. The business has a fifty day moving average of $27.60 and a 200 day moving average of $29.66. The company has a quick ratio of 1.25, a current ratio of 1.93 and a debt-to-equity ratio of 0.79.
Colfax (NYSE:CFX) last issued its earnings results on Thursday, May 7th. The industrial products company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Colfax had a positive return on equity of 8.89% and a negative net margin of 13.62%. The business had revenue of $816.40 million during the quarter, compared to analysts’ expectations of $790.17 million. During the same period in the prior year, the business earned $0.53 EPS. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. Equities analysts anticipate that Colfax Corp will post 1.21 EPS for the current fiscal year.
A number of analysts have issued reports on the company. Robert W. Baird lifted their price objective on Colfax from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Citigroup lifted their price objective on Colfax from $18.00 to $21.00 and gave the stock a “sell” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. assumed coverage on Colfax in a research report on Friday, May 29th. They set an “overweight” rating and a $32.00 target price on the stock. Deutsche Bank boosted their target price on Colfax from $19.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, TheStreet downgraded Colfax from a “c-” rating to a “d+” rating in a research report on Friday, April 3rd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $29.53.
In other Colfax news, Director Rajiv Vinnakota sold 1,800 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $27.44, for a total value of $49,392.00. Following the completion of the sale, the director now directly owns 21,888 shares in the company, valued at approximately $600,606.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Liam Kelly acquired 6,364 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $23.43 per share, with a total value of $149,108.52. Following the completion of the purchase, the director now directly owns 7,056 shares in the company, valued at $165,322.08. The disclosure for this purchase can be found here. 12.00% of the stock is currently owned by corporate insiders.
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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