Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Colfax Corp (NYSE:CFX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 22,025 shares of the industrial products company’s stock, valued at approximately $460,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia acquired a new position in Colfax during the third quarter worth $396,000. Stephens Inc. AR acquired a new position in Colfax during the fourth quarter worth $1,898,000. Golub Group LLC boosted its stake in Colfax by 2.1% during the third quarter. Golub Group LLC now owns 588,951 shares of the industrial products company’s stock worth $21,238,000 after buying an additional 11,897 shares during the last quarter. Hsbc Holdings PLC raised its position in Colfax by 137.3% in the third quarter. Hsbc Holdings PLC now owns 36,697 shares of the industrial products company’s stock valued at $1,322,000 after purchasing an additional 21,231 shares during the period. Finally, Defender Capital LLC. purchased a new stake in Colfax in the fourth quarter valued at $3,122,000. 79.72% of the stock is currently owned by institutional investors.
CFX stock opened at $29.23 on Wednesday. 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 firm has a market capitalization of $3.44 billion, a P/E ratio of 12.62, a PEG ratio of 0.91 and a beta of 1.56. Colfax Corp has a 12-month low of $18.95 and a 12-month high of $37.05.
Colfax (NYSE:CFX) last posted its quarterly earnings data on Wednesday, February 13th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to the consensus estimate of $982.49 million. Colfax had a return on equity of 7.79% and a net margin of 3.82%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. On average, research analysts expect that Colfax Corp will post 2.6 EPS for the current year.
CFX has been the topic of a number of research analyst reports. Barclays reduced their target price on Colfax from $25.00 to $23.00 and set an “underweight” rating on the stock in a research report on Monday, December 17th. Stifel Nicolaus restated a “buy” rating and issued a $31.00 target price on shares of Colfax in a research report on Wednesday, December 19th. Oppenheimer reduced their target price on Colfax from $37.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, December 20th. Zacks Investment Research restated a “buy” rating and issued a $22.00 target price on shares of Colfax in a research report on Monday, December 31st. Finally, CIBC restated an “average” rating and issued a $20.00 target price on shares of Colfax in a research report on Monday, January 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.91.
In related news, 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 value of $115,062.60. Following the sale, the chief executive officer now owns 21,876 shares in the company, valued at approximately $590,870.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew L. Trerotola sold 22,553 shares of the business’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $21.36, for a total value of $481,732.08. Following the completion of the sale, the chief executive officer now owns 244,193 shares in the company, valued at approximately $5,215,962.48. The disclosure for this sale can be found here. Insiders sold a total of 29,479 shares of company stock worth $667,444 in the last quarter. Company insiders own 10.20% of the company’s stock.
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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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