Robeco Institutional Asset Management B.V. Has $465,000 Position in Cognex Co. (CGNX)

Robeco Institutional Asset Management B.V. boosted its holdings in Cognex Co. (NASDAQ:CGNX) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,325 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,425 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Cognex were worth $465,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in Cognex by 38.6% in the 1st quarter. Royal Bank of Canada now owns 132,393 shares of the scientific and technical instruments company’s stock valued at $6,884,000 after acquiring an additional 36,845 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Cognex by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 759,460 shares of the scientific and technical instruments company’s stock valued at $39,484,000 after acquiring an additional 20,959 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Cognex by 83.2% in the 1st quarter. Allianz Asset Management GmbH now owns 627,694 shares of the scientific and technical instruments company’s stock valued at $32,634,000 after acquiring an additional 285,005 shares during the last quarter. DnB Asset Management AS acquired a new stake in Cognex in the 2nd quarter valued at about $2,913,000. Finally, IFM Investors Pty Ltd lifted its holdings in Cognex by 55.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 6,917 shares of the scientific and technical instruments company’s stock valued at $309,000 after acquiring an additional 2,461 shares during the last quarter. 90.36% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on CGNX shares. Zacks Investment Research downgraded shares of Cognex from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. BidaskClub raised shares of Cognex from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Northcoast Research lowered shares of Cognex from a “buy” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research note on Friday, August 24th. They noted that the move was a valuation call. Morgan Stanley began coverage on shares of Cognex in a research note on Monday, August 20th. They set an “equal weight” rating and a $57.00 price objective for the company. Finally, Sanford C. Bernstein raised shares of Cognex from a “market perform” rating to an “outperform” rating and set a $40.10 price objective for the company in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Cognex currently has a consensus rating of “Hold” and a consensus target price of $51.55.



CGNX stock opened at $47.42 on Thursday. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 2.59 and a beta of 1.90. Cognex Co. has a one year low of $36.16 and a one year high of $72.99.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Monday, October 29th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business had revenue of $232.22 million during the quarter, compared to the consensus estimate of $227.15 million. Cognex had a return on equity of 20.88% and a net margin of 18.52%. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. As a group, equities research analysts predict that Cognex Co. will post 1.2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.42%. This is an increase from Cognex’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, November 15th. Cognex’s dividend payout ratio is presently 12.41%.

Cognex announced that its board has authorized a share repurchase plan on Monday, October 29th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

In other news, Director Anthony Sun sold 10,000 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $56.04, for a total transaction of $560,400.00. Following the completion of the sale, the director now directly owns 264,262 shares in the company, valued at approximately $14,809,242.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jerry A. Schneider sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $54.29, for a total value of $271,450.00. Following the sale, the director now owns 7,000 shares of the company’s stock, valued at $380,030. The disclosure for this sale can be found here. Corporate insiders own 5.40% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Robeco Institutional Asset Management B.V. Has $465,000 Position in Cognex Co. (CGNX)” was originally published by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this piece on another website, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this piece can be read at https://dakotafinancialnews.com/2018/11/08/robeco-institutional-asset-management-b-v-has-465000-position-in-cognex-co-cgnx.html.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing and tracking of discrete items, such as mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

Featured Story: How is the S&P 500 index different from the DJIA?

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Co. (NASDAQ:CGNX).

Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

Receive News & Ratings for Cognex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply