Fmr LLC trimmed its position in shares of Colfax Corp (NYSE:CFX) by 29.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,434,264 shares of the industrial products company’s stock after selling 593,664 shares during the quarter. Fmr LLC owned approximately 1.21% of Colfax worth $43,960,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Colfax during the second quarter worth $129,000. BNP Paribas Arbitrage SA raised its holdings in shares of Colfax by 182.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 3,150 shares during the last quarter. TLP Group LLC acquired a new position in shares of Colfax in the first quarter worth $186,000. PNC Financial Services Group Inc. raised its holdings in shares of Colfax by 31.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 1,917 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Colfax by 40.1% in the second quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 2,780 shares during the last quarter. Institutional investors own 79.28% of the company’s stock.
CFX has been the subject of a number of analyst reports. Deutsche Bank set a $33.00 price target on Colfax and gave the stock a “hold” rating in a report on Thursday, July 12th. Morgan Stanley initiated coverage on Colfax in a report on Monday, August 20th. They issued an “equal weight” rating and a $34.00 price target for the company. Cowen raised Colfax from a “market perform” rating to an “outperform” rating in a report on Friday, August 17th. Zacks Investment Research cut Colfax from a “hold” rating to a “sell” rating in a report on Monday, July 9th. Finally, Oppenheimer raised Colfax from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Tuesday, September 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $35.49.
Colfax stock opened at $35.73 on Thursday. The firm has a market capitalization of $4.28 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38. Colfax Corp has a 52 week low of $28.80 and a 52 week high of $43.29. The company has a quick ratio of 1.36, a current ratio of 1.81 and a debt-to-equity ratio of 0.30.
Colfax (NYSE:CFX) last released its earnings results on Monday, August 6th. The industrial products company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. The firm had revenue of $925.29 million during the quarter, compared to analyst estimates of $939.07 million. Colfax had a return on equity of 6.64% and a net margin of 3.47%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 earnings per share. research analysts predict that Colfax Corp will post 2.25 EPS for the current year.
Colfax Company Profile
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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