Lincoln Capital LLC Boosts Holdings in Colfax Corp (CFX)
Lincoln Capital LLC boosted its position in shares of Colfax Corp (NYSE:CFX) by 11.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 161,563 shares of the industrial products company’s stock after purchasing an additional 16,712 shares during the quarter. Colfax makes up approximately 3.6% of Lincoln Capital LLC’s investment portfolio, making the stock its 11th biggest position. Lincoln Capital LLC’s holdings in Colfax were worth $6,401,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Toronto Dominion Bank acquired a new position in shares of Colfax in the 2nd quarter valued at $118,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Colfax by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 323 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Colfax by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,688 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 251 shares during the period. FNY Managed Accounts LLC acquired a new position in shares of Colfax in the 3rd quarter valued at $160,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Colfax in the 3rd quarter valued at $177,000. 74.89% of the stock is currently owned by hedge funds and other institutional investors.
Colfax Corp (NYSE CFX) traded down $0.49 on Wednesday, hitting $41.27. 678,300 shares of the company were exchanged, compared to its average volume of 610,020. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.47 and a current ratio of 1.80. Colfax Corp has a 1-year low of $33.31 and a 1-year high of $43.29. The company has a market cap of $5,141.31, a PE ratio of 29.06, a P/E/G ratio of 1.61 and a beta of 1.27.
Colfax (NYSE:CFX) last released its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Colfax had a net margin of 4.89% and a return on equity of 6.26%. The business had revenue of $844.50 million during the quarter, compared to analysts’ expectations of $901.09 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. research analysts predict that Colfax Corp will post 1.72 earnings per share for the current year.
In related news, EVP Daniel A. Pryor sold 53,333 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.15, for a total value of $2,034,653.95. Following the completion of the sale, the executive vice president now owns 93,557 shares in the company, valued at approximately $3,569,199.55. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.60% of the stock is owned by corporate insiders.
A number of research analysts have recently weighed in on CFX shares. Longbow Research raised Colfax from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. Royal Bank of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Colfax in a research note on Wednesday, September 27th. KeyCorp reissued a “buy” rating and issued a $46.00 price target on shares of Colfax in a research note on Tuesday, September 26th. Cowen reissued a “buy” rating and issued a $50.00 price target on shares of Colfax in a research note on Tuesday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target on shares of Colfax in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Colfax currently has an average rating of “Buy” and a consensus price target of $46.20.
Colfax Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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