Colfax Corp (CFX) Shares Sold by Fmr LLC
Fmr LLC cut its position in shares of Colfax Corp (NYSE:CFX) by 29.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,434,264 shares of the industrial products company’s stock after selling 593,664 shares during the quarter. Fmr LLC’s holdings in Colfax were worth $43,960,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Colfax in the second quarter worth about $129,000. BNP Paribas Arbitrage SA boosted its position in shares of Colfax by 182.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock worth $149,000 after buying an additional 3,150 shares during the period. TLP Group LLC purchased a new stake in shares of Colfax in the first quarter worth about $186,000. PNC Financial Services Group Inc. boosted its position in shares of Colfax by 31.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock worth $247,000 after buying an additional 1,917 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Colfax by 40.1% in the second quarter. State of Alaska Department of Revenue now owns 9,720 shares of the industrial products company’s stock worth $297,000 after buying an additional 2,780 shares during the period. Institutional investors own 79.28% of the company’s stock.
CFX has been the subject of several analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 target price (up previously from $36.00) on shares of Colfax in a research report on Monday, August 6th. Zacks Investment Research raised Colfax from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Thursday, August 9th. Morgan Stanley initiated coverage on Colfax in a research report on Monday, August 20th. They issued an “equal weight” rating and a $34.00 target price for the company. Deutsche Bank set a $33.00 target price on Colfax and gave the stock a “hold” rating in a research report on Thursday, July 12th. Finally, MED initiated coverage on Colfax in a research report on Thursday, July 12th. They issued a “hold” rating and a $33.00 target price for the company. Four analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $35.49.
Shares of CFX opened at $35.73 on Thursday. The stock has a market capitalization of $4.28 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38. Colfax Corp has a one year low of $28.80 and a one year 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.
Colfax (NYSE:CFX) last issued its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The firm had revenue of $925.29 million during the quarter, compared to the consensus estimate of $939.07 million. Colfax had a return on equity of 6.64% and a net margin of 3.47%. Colfax’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. research analysts anticipate that Colfax Corp will post 2.25 EPS for the current year.
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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