Stephens Inc. AR boosted its holdings in shares of Colfax Corp (NYSE:CFX) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,788 shares of the industrial products company’s stock after acquiring an additional 2,180 shares during the quarter. Stephens Inc. AR owned approximately 0.09% of Colfax worth $3,105,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Arizona State Retirement System raised its position in Colfax by 1.3% during the second 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 in the last quarter. CenturyLink Investment Management Co raised its position in Colfax by 2.3% during the second 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 in the last quarter. Crossmark Global Holdings Inc. raised its position in Colfax by 9.4% during the second 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 in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Colfax in the fourth quarter worth $27,000. Finally, Bridges Investment Management Inc. lifted its holdings in shares of Colfax by 4.2% during the first quarter. Bridges Investment Management Inc. now owns 34,410 shares of the industrial products company’s stock valued at $1,021,000 after acquiring an additional 1,400 shares during the period. 94.08% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on CFX shares. ValuEngine cut Colfax from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Seaport Global Securities restated a “buy” rating on shares of Colfax in a research report on Monday, August 12th. Morgan Stanley decreased their target price on Colfax from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank set a $28.00 target price on Colfax and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus set a $35.00 target price on Colfax and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.75.
Colfax (NYSE:CFX) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Colfax had a positive return on equity of 8.69% and a negative net margin of 11.76%. The business had revenue of $908.65 million during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $0.61 EPS. Colfax’s quarterly revenue was up 62.0% compared to the same quarter last year. As a group, equities analysts predict that Colfax Corp will post 1.96 earnings per share for the current fiscal year.
In related news, CFO Christopher M. Hix sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $27.08, for a total value of $128,630.00. Following the completion of the transaction, the chief financial officer now directly owns 29,841 shares in the company, valued at approximately $808,094.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew L. Trerotola sold 18,589 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $28.51, for a total value of $529,972.39. Following the completion of the transaction, the chief executive officer now owns 225,604 shares of the company’s stock, valued at $6,431,970.04. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by insiders.
Colfax Company Profile
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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