New York State Common Retirement Fund raised its holdings in Colfax Corp (NYSE:CFX) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198,600 shares of the industrial products company’s stock after buying an additional 7,600 shares during the quarter. New York State Common Retirement Fund owned about 0.16% of Colfax worth $8,270,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Colfax by 82.2% in the third quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock worth $120,655,000 after acquiring an additional 1,306,927 shares in the last quarter. Oak Ridge Investments LLC purchased a new position in shares of Colfax in the second quarter worth $46,085,000. Balyasny Asset Management LLC purchased a new position in shares of Colfax in the second quarter worth $35,722,000. Lodge Hill Capital LLC raised its stake in shares of Colfax by 37.9% in the second quarter. Lodge Hill Capital LLC now owns 2,020,200 shares of the industrial products company’s stock worth $79,535,000 after purchasing an additional 555,000 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in Colfax during the second quarter valued at $10,234,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.
Colfax Corp (CFX) traded up $0.35 on Friday, reaching $41.76. The company’s stock had a trading volume of 375,354 shares, compared to its average volume of 766,408. The stock has a market cap of $5,140.00, a P/E ratio of 33.68, a P/E/G ratio of 1.59 and a beta of 1.26. Colfax Corp has a one year low of $33.31 and a one year high of $43.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.47.
Colfax (NYSE:CFX) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $844.50 million for the quarter, compared to the consensus estimate of $901.09 million. Colfax had a return on equity of 6.26% and a net margin of 4.89%. Colfax’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. equities analysts anticipate that Colfax Corp will post 1.72 EPS for the current year.
A number of analysts recently commented on CFX shares. Zacks Investment Research upgraded Colfax from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Monday, October 9th. Royal Bank of Canada reissued a “buy” rating and set a $45.00 price target on shares of Colfax in a report on Wednesday, September 27th. Longbow Research raised Colfax from a “neutral” rating to a “buy” rating in a report on Tuesday, November 21st. Cowen lowered Colfax from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Colfax in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $45.80.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the sale, the executive vice president now owns 93,557 shares of the company’s stock, valued at approximately $3,569,199.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.60% of the stock is currently owned by company insiders.
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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