United Services Automobile Association increased its position in Colfax Corp (NYSE:CFX) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 175,951 shares of the industrial products company’s stock after acquiring an additional 12,755 shares during the quarter. United Services Automobile Association owned about 0.15% of Colfax worth $5,393,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CFX. SG Americas Securities LLC purchased a new stake in Colfax in the 2nd quarter worth about $129,000. BNP Paribas Arbitrage SA increased its holdings in Colfax by 182.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 3,150 shares during the last quarter. TLP Group LLC purchased a new stake in Colfax in the 1st quarter worth about $186,000. Jane Street Group LLC purchased a new stake in Colfax in the 2nd quarter worth about $231,000. Finally, PNC Financial Services Group Inc. increased its holdings in Colfax by 31.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 1,917 shares during the last quarter. 79.28% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on CFX shares. Oppenheimer reissued a “hold” rating on shares of Colfax in a report on Monday, August 6th. Zacks Investment Research raised Colfax from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Thursday, August 9th. Deutsche Bank set a $33.00 target price on Colfax and gave the stock a “hold” rating in a research note on Thursday, July 12th. MED initiated coverage on Colfax in a research note on Thursday, July 12th. They issued a “hold” rating and a $33.00 target price for the company. Finally, Barclays raised their target price on Colfax from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.10.
Shares of NYSE CFX opened at $32.29 on Friday. Colfax Corp has a 52 week low of $28.80 and a 52 week high of $43.29. The company has a quick ratio of 1.36, a current ratio of 1.81 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.26 and a beta of 1.35.
Colfax (NYSE:CFX) last issued its earnings results on Monday, August 6th. The industrial products company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. Colfax had a return on equity of 6.64% and a net margin of 3.47%. The business had revenue of $925.29 million during the quarter, compared to the consensus estimate of $939.07 million. During the same quarter last year, the company earned $0.45 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that Colfax Corp will post 2.25 earnings per share for the current fiscal year.
In other news, CEO Matthew L. Trerotola sold 20,488 shares of Colfax stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total transaction of $682,660.16. Following the completion of the sale, the chief executive officer now owns 266,746 shares in the company, valued at approximately $8,887,976.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.20% of the company’s stock.
Colfax Company Profile
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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