Colfax Corp (CFX) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its holdings in shares of Colfax Corp (NYSE:CFX) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,598,579 shares of the industrial products company’s stock after selling 99,659 shares during the quarter. Wedge Capital Management L L P NC owned approximately 1.36% of Colfax worth $57,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CFX. PNC Financial Services Group Inc. lifted its holdings in Colfax by 31.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 1,917 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Colfax by 3.1% during the 1st quarter. Brown Advisory Inc. now owns 74,252 shares of the industrial products company’s stock worth $2,369,000 after purchasing an additional 2,266 shares during the last quarter. Royal Bank of Canada lifted its holdings in Colfax by 3.1% during the 1st quarter. Royal Bank of Canada now owns 90,748 shares of the industrial products company’s stock worth $2,894,000 after purchasing an additional 2,709 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Colfax by 40.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 2,780 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Colfax by 182.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 3,150 shares during the last quarter. Institutional investors own 78.91% of the company’s stock.

Several research firms recently weighed in on CFX. Deutsche Bank set a $30.00 price target on Colfax and gave the stock a “hold” rating in a report on Friday, October 26th. Cowen raised Colfax from a “market perform” rating to an “outperform” rating in a report on Friday, August 17th. Robert W. Baird reissued a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Colfax in a report on Monday, August 6th. UBS Group raised Colfax from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 4th. Finally, Argus dropped their price target on Colfax from $40.00 to $34.00 and set a “buy” rating for the company in a report on Monday, October 29th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $34.77.

Shares of NYSE CFX opened at $28.93 on Friday. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.92 and a beta of 1.56. The company has a quick ratio of 1.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. Colfax Corp has a fifty-two week low of $26.25 and a fifty-two week high of $42.38.

Colfax (NYSE:CFX) last announced its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02. The firm had revenue of $875.37 million during the quarter, compared to analysts’ expectations of $893.38 million. Colfax had a return on equity of 6.97% and a net margin of 3.03%. As a group, equities research analysts forecast that Colfax Corp will post 2.25 EPS for the current fiscal year.

In other Colfax news, CEO Matthew L. Trerotola sold 20,488 shares of Colfax stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total value of $682,660.16. Following the completion of the transaction, the chief executive officer now directly owns 266,746 shares of the company’s stock, valued at approximately $8,887,976.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.20% of the stock is owned by insiders.

Colfax 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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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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