Schwab Charles Investment Management Inc. increased its holdings in shares of Colfax Corporation (NYSE:CFX) by 13.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 444,560 shares of the industrial products company’s stock after acquiring an additional 53,918 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.36% of Colfax Corporation worth $17,503,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CFX. BlackRock Inc. grew its holdings in Colfax Corporation by 13,409.0% during the first quarter. BlackRock Inc. now owns 4,103,892 shares of the industrial products company’s stock worth $161,119,000 after acquiring an additional 4,073,513 shares during the period. FMR LLC grew its holdings in Colfax Corporation by 32.8% during the first quarter. FMR LLC now owns 4,243,210 shares of the industrial products company’s stock worth $166,588,000 after acquiring an additional 1,048,360 shares during the period. Point72 Asset Management L.P. grew its holdings in Colfax Corporation by 1,233.6% during the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock worth $35,499,000 after acquiring an additional 836,400 shares during the period. FIL Ltd grew its holdings in Colfax Corporation by 394.3% during the first quarter. FIL Ltd now owns 595,866 shares of the industrial products company’s stock worth $23,394,000 after acquiring an additional 475,318 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Colfax Corporation by 13.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,664,041 shares of the industrial products company’s stock worth $104,589,000 after acquiring an additional 305,766 shares during the period. 75.22% of the stock is currently owned by hedge funds and other institutional investors.
CFX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Colfax Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub lowered Colfax Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Robert W. Baird raised Colfax Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $47.00 to $50.00 in a report on Monday, July 31st. Seaport Global Securities reissued a “buy” rating on shares of Colfax Corporation in a report on Wednesday, June 14th. Finally, Cowen and Company reissued an “outperform” rating and issued a $50.00 target price (up previously from $45.00) on shares of Colfax Corporation in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Colfax Corporation currently has a consensus rating of “Buy” and an average price target of $46.44.
In related news, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total transaction of $146,998.62. Following the completion of the sale, the executive vice president now owns 40,224 shares of the company’s stock, valued at $1,654,413.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stephen Wittig sold 29,189 shares of Colfax Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the sale, the senior vice president now directly owns 15,479 shares of the company’s stock, valued at approximately $608,324.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,202 shares of company stock valued at $1,312,182. Insiders own 10.60% of the company’s stock.
Shares of Colfax Corporation (CFX) opened at 42.74 on Friday. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 33.63 and a beta of 1.35. The firm has a 50-day moving average price of $39.99 and a 200 day moving average price of $39.72. Colfax Corporation has a 12-month low of $28.30 and a 12-month high of $42.85.
Colfax Corporation (NYSE:CFX) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $965.83 million during the quarter, compared to analysts’ expectations of $940.31 million. Colfax Corporation had a return on equity of 6.30% and a net margin of 4.35%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities research analysts anticipate that Colfax Corporation will post $1.73 earnings per share for the current fiscal year.
Colfax Corporation Company Profile
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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