Sustainable Insight Capital Management LLC purchased a new position in shares of Colfax Corp (NYSE:CFX) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 26,200 shares of the industrial products company’s stock, valued at approximately $778,000.
Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Colfax by 335,582.8% during the first quarter. JPMorgan Chase & Co. now owns 214,837 shares of the industrial products company’s stock worth $6,376,000 after purchasing an additional 214,773 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of Colfax during the 1st quarter valued at about $742,000. Mason Street Advisors LLC bought a new position in shares of Colfax during the 1st quarter valued at about $1,500,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Colfax during the 1st quarter valued at about $497,000. Finally, Raymond James & Associates boosted its position in shares of Colfax by 25.6% during the 1st quarter. Raymond James & Associates now owns 142,818 shares of the industrial products company’s stock valued at $4,239,000 after purchasing an additional 29,067 shares in the last quarter. Hedge funds and other institutional investors own 81.11% of the company’s stock.
Several research firms have recently weighed in on CFX. ValuEngine lowered shares of Colfax from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 8th. Raymond James reaffirmed a “buy” rating and set a $21.00 price objective on shares of Colfax in a research report on Thursday, May 2nd. Longbow Research reaffirmed a “buy” rating and set a $38.00 price objective on shares of Colfax in a research report on Thursday, March 21st. Gabelli reaffirmed a “buy” rating on shares of Colfax in a research report on Thursday, February 14th. Finally, Goldman Sachs Group assumed coverage on shares of Colfax in a research report on Friday, April 5th. They issued a “buy” rating and a $34.00 price target on the stock. Two 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 stock. The company has an average rating of “Buy” and a consensus price target of $30.05.
Shares of NYSE:CFX traded up $0.23 during trading on Monday, reaching $27.13. The stock had a trading volume of 49,131 shares, compared to its average volume of 2,098,272. Colfax Corp has a 52 week low of $18.95 and a 52 week high of $37.05. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 0.84 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 1.53 and a debt-to-equity ratio of 1.12.
Colfax (NYSE:CFX) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.04 billion. Colfax had a net margin of 1.68% and a return on equity of 8.16%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. Research analysts predict that Colfax Corp will post 2.58 EPS for the current fiscal year.
In other news, SVP Lynn H. Clark sold 2,666 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $26.50, for a total value of $70,649.00. Following the sale, the senior vice president now owns 35,662 shares in the company, valued at $945,043. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ian Brander sold 4,260 shares of the firm’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 completion of the sale, the chief executive officer now owns 21,876 shares in the company, valued at approximately $590,870.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,690 shares of company stock worth $494,752. 12.00% of the stock is currently owned by corporate insiders.
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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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