Wedge Capital Management L L P NC cut its stake in Colfax Corp (NYSE:CFX) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,324,728 shares of the industrial products company’s stock after selling 168,439 shares during the period. Wedge Capital Management L L P NC’s holdings in Colfax were worth $39,318,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CFX. Macquarie Group Ltd. acquired a new position in Colfax during the fourth quarter valued at approximately $27,000. Pinnacle Bank acquired a new position in Colfax during the fourth quarter valued at approximately $36,000. Quadrant Capital Group LLC lifted its position in Colfax by 264.3% during the first quarter. Quadrant Capital Group LLC now owns 2,211 shares of the industrial products company’s stock valued at $63,000 after buying an additional 1,604 shares in the last quarter. SG Americas Securities LLC acquired a new position in Colfax during the fourth quarter valued at approximately $112,000. Finally, Group One Trading L.P. acquired a new position in Colfax during the fourth quarter valued at approximately $121,000. 80.08% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Lynn H. Clark sold 2,666 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $26.50, for a total transaction of $70,649.00. Following the transaction, the senior vice president now directly owns 35,662 shares of the company’s stock, valued at $945,043. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ian Brander sold 4,260 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $27.01, for a total transaction of $115,062.60. Following the transaction, the chief executive officer now directly owns 21,876 shares in the company, valued at $590,870.76. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.
Shares of NYSE CFX traded down $0.55 during trading on Thursday, reaching $26.44. 86,169 shares of the stock were exchanged, compared to its average volume of 2,246,731. Colfax Corp has a twelve month low of $18.95 and a twelve month high of $37.05. The company has a current ratio of 1.63, a quick ratio of 1.22 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.56 billion, a P/E ratio of 11.43, a PEG ratio of 0.94 and a beta of 1.57.
Colfax (NYSE:CFX) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Colfax had a net margin of 3.82% and a return on equity of 7.79%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, research analysts expect that Colfax Corp will post 2.6 EPS for the current fiscal year.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of Colfax from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Raymond James reaffirmed a “buy” rating and set a $21.00 price target on shares of Colfax in a research report on Thursday, May 2nd. Goldman Sachs Group assumed coverage on shares of Colfax in a research report on Friday, April 5th. They set a “buy” rating and a $34.00 price target on the stock. Longbow Research reaffirmed a “buy” rating and set a $38.00 price target on shares of Colfax in a research report on Thursday, March 21st. Finally, Gabelli reaffirmed a “buy” rating on shares of Colfax in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.05.
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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