Engineers Gate Manager LP lessened its position in Colfax Co. (NYSE:CFX) by 55.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,008 shares of the industrial products company’s stock after selling 22,790 shares during the period. Engineers Gate Manager LP’s holdings in Colfax were worth $574,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of Colfax by 17.9% in the first quarter. Victory Capital Management Inc. now owns 5,291,737 shares of the industrial products company’s stock worth $168,806,000 after buying an additional 804,696 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Colfax by 24.6% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,724,863 shares of the industrial products company’s stock valued at $86,923,000 after purchasing an additional 537,299 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Colfax by 75.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,797,651 shares of the industrial products company’s stock valued at $71,222,000 after purchasing an additional 774,964 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Colfax by 7.2% during the first quarter. Wedge Capital Management L L P NC now owns 1,786,944 shares of the industrial products company’s stock valued at $57,004,000 after purchasing an additional 119,580 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Colfax by 0.9% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,199,286 shares of the industrial products company’s stock valued at $47,516,000 after purchasing an additional 10,230 shares during the last quarter. Hedge funds and other institutional investors own 76.44% of the company’s stock.
Shares of Colfax opened at $32.24 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.97 and a quick ratio of 1.52. The firm has a market capitalization of $4.00 billion, a PE ratio of 18.53, a PEG ratio of 1.02 and a beta of 1.27. Colfax Co. has a 1 year low of $29.02 and a 1 year high of $43.29.
Colfax (NYSE:CFX) last announced its quarterly earnings data on Thursday, May 3rd. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. The firm had revenue of $881.00 million during the quarter, compared to analysts’ expectations of $822.75 million. Colfax had a net margin of 3.84% and a return on equity of 6.13%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. research analysts predict that Colfax Co. will post 2.15 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the stock. Oppenheimer reissued a “hold” rating on shares of Colfax in a report on Thursday, May 3rd. Robert W. Baird reissued a “buy” rating and set a $39.00 price objective on shares of Colfax in a report on Wednesday, April 4th. Stifel Nicolaus decreased their price objective on shares of Colfax from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, May 4th. Citigroup decreased their price objective on shares of Colfax from $30.00 to $28.00 and set a “sell” rating for the company in a report on Friday, May 4th. Finally, Royal Bank of Canada cut shares of Colfax from an “outperform” rating to a “sector perform” rating and set a $43.00 price objective for the company. in a report on Friday, May 4th. Four analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Colfax has an average rating of “Hold” and a consensus target price of $39.67.
In other news, insider Shyam Kambeyanda sold 873 shares of the stock in a transaction on Monday, May 14th. The shares were sold at an average price of $32.48, for a total value of $28,355.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 1,608 shares of company stock valued at $52,596. Corporate insiders own 10.20% of the company’s stock.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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