Wells Fargo & Company MN lessened its holdings in shares of Colfax Corp (NYSE:CFX) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,495 shares of the industrial products company’s stock after selling 34,489 shares during the period. Wells Fargo & Company MN owned 0.28% of Colfax worth $9,151,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Colfax by 176.4% during the second quarter. Parallel Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 799 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Colfax during the second quarter valued at $83,000. Valeo Financial Advisors LLC lifted its position in Colfax by 88.7% during the second quarter. Valeo Financial Advisors LLC now owns 8,242 shares of the industrial products company’s stock valued at $231,000 after buying an additional 3,875 shares during the period. Keybank National Association OH purchased a new position in Colfax during the first quarter valued at $244,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Colfax during the second quarter valued at $320,000. 95.95% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on CFX. Morgan Stanley lowered their price target 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. Seaport Global Securities reaffirmed a “buy” rating on shares of Colfax in a research report on Monday, August 12th. CIBC reissued a “hold” rating and issued a $15.00 target price on shares of Colfax in a research report on Friday, June 7th. 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, ValuEngine raised Colfax from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $29.75.
In other news, CEO Matthew L. Trerotola sold 18,589 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $28.51, for a total transaction of $529,972.39. Following the sale, the chief executive officer now directly owns 225,604 shares of the company’s stock, valued at approximately $6,431,970.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher M. Hix sold 4,750 shares of the company’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 sale, the chief financial officer now directly owns 29,841 shares in the company, valued at $808,094.28. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.
Shares of NYSE:CFX traded up $0.04 during mid-day trading on Friday, reaching $30.54. 4,939 shares of the company traded hands, compared to its average volume of 1,054,643. The company’s 50 day moving average price is $26.91 and its 200-day moving average price is $27.52. The firm has a market cap of $3.65 billion, a PE ratio of 13.20, a PEG ratio of 1.26 and a beta of 1.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.27 and a quick ratio of 1.90. Colfax Corp has a 52 week low of $18.95 and a 52 week high of $37.05.
Colfax (NYSE:CFX) last announced its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. The company had revenue of $908.65 million during the quarter, compared to the consensus estimate of $1.25 billion. Colfax had a positive return on equity of 8.69% and a negative net margin of 11.76%. The firm’s revenue was up 62.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. On average, research analysts predict that Colfax Corp will post 1.97 earnings per share for the current fiscal year.
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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