Pacer Advisors Inc. decreased its stake in Colfax Corp (NYSE:CFX) by 20.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,029 shares of the industrial products company’s stock after selling 7,786 shares during the period. Pacer Advisors Inc.’s holdings in Colfax were worth $873,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of CFX. Parallel Advisors LLC boosted its holdings in shares of Colfax by 176.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $35,000 after buying an additional 799 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Colfax in the 3rd quarter valued at $82,000. Nisa Investment Advisors LLC acquired a new position in shares of Colfax in the 2nd quarter valued at $83,000. Valeo Financial Advisors LLC boosted its holdings in shares of Colfax by 88.7% in the 2nd 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 in the last quarter. Finally, Flinton Capital Management LLC acquired a new position in shares of Colfax in the 2nd quarter valued at $241,000. Institutional investors and hedge funds own 95.93% of the company’s stock.
Several brokerages have recently issued reports on CFX. Stifel Nicolaus set a $35.00 target price on shares of Colfax and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Colfax from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a report on Tuesday, October 15th. Scotiabank upgraded shares of Colfax to a “sector outperform” rating in a report on Thursday, September 26th. Deutsche Bank set a $28.00 target price on shares of Colfax and gave the company a “hold” rating in a report on Wednesday, July 10th. Finally, ValuEngine upgraded shares of Colfax from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Colfax currently has an average rating of “Buy” and a consensus price target of $30.36.
Shares of NYSE:CFX opened at $30.17 on Friday. The stock has a market cap of $3.52 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.29 and a beta of 1.59. The firm has a fifty day moving average price of $28.51 and a 200 day moving average price of $27.72. 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 1-year low of $18.95 and a 1-year high of $32.09.
Colfax (NYSE:CFX) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.04. The firm had revenue of $908.65 million during the quarter, compared to analysts’ expectations of $1.25 billion. Colfax had a negative net margin of 11.76% and a positive return on equity of 8.69%. Colfax’s quarterly revenue was up 62.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. Sell-side analysts expect that Colfax Corp will post 1.93 EPS for the current fiscal year.
In related news, CEO Matthew L. Trerotola sold 18,589 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $28.51, for a total transaction of $529,972.39. Following the completion of the sale, the chief executive officer now owns 225,604 shares in the company, valued at approximately $6,431,970.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.00% of the stock is owned by corporate 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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