Colfax Corporation (CFX) Shares Bought by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC increased its stake in Colfax Corporation (NYSE:CFX) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,386,449 shares of the industrial products company’s stock after buying an additional 3,446 shares during the period. Wedge Capital Management L L P NC’s holdings in Colfax Corporation were worth $54,584,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CFX. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Colfax Corporation during the first quarter worth $494,000. Welch & Forbes LLC increased its stake in shares of Colfax Corporation by 3.7% in the first quarter. Welch & Forbes LLC now owns 18,980 shares of the industrial products company’s stock worth $746,000 after buying an additional 680 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in shares of Colfax Corporation by 134.9% in the first quarter. Clarkston Capital Partners LLC now owns 13,410 shares of the industrial products company’s stock worth $526,000 after buying an additional 7,700 shares in the last quarter. First Mercantile Trust Co. increased its stake in shares of Colfax Corporation by 76.0% in the first quarter. First Mercantile Trust Co. now owns 9,740 shares of the industrial products company’s stock worth $382,000 after buying an additional 4,205 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management increased its stake in shares of Colfax Corporation by 26.7% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 42,385 shares of the industrial products company’s stock worth $1,664,000 after buying an additional 8,935 shares in the last quarter. 77.32% of the stock is owned by institutional investors.
Colfax Corporation (NYSE CFX) opened at 40.01 on Friday. The company has a market cap of $4.92 billion, a PE ratio of 31.48 and a beta of 1.37. Colfax Corporation has a 52-week low of $27.76 and a 52-week high of $42.75. The firm has a 50-day moving average of $40.33 and a 200 day moving average of $39.71.
Colfax Corporation (NYSE:CFX) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $965.83 million during the quarter, compared to analysts’ expectations of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. Equities research analysts expect that Colfax Corporation will post $1.73 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on CFX shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $44.00 price objective on shares of Colfax Corporation in a research report on Monday, April 17th. Barclays PLC boosted their price objective on shares of Colfax Corporation from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Colfax Corporation in a research report on Sunday, May 7th. Robert W. Baird boosted their price objective on shares of Colfax Corporation from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, May 8th. Finally, Zacks Investment Research raised shares of Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, May 16th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $46.00.
In related news, SVP A. Lynne Puckett sold 10,882 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $40.14, for a total transaction of $436,803.48. Following the completion of the sale, the senior vice president now owns 40,907 shares in the company, valued at approximately $1,642,006.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Pryor sold 3,574 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total transaction of $146,998.62. Following the sale, the executive vice president now owns 40,224 shares of the company’s stock, valued at approximately $1,654,413.12. The disclosure for this sale can be found here. Insiders have sold a total of 15,560 shares of company stock valued at $628,319 in the last quarter. 10.60% of the stock is currently owned by corporate insiders.
About Colfax Corporation
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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