BlackRock Advisors LLC decreased its position in Colfax Corp. (NYSE:CFX) by 32.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,037,376 shares of the company’s stock after selling 502,499 shares during the period. BlackRock Advisors LLC owned 0.85% of Colfax Corp. worth $27,449,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Colfax Corp. during the fourth quarter worth about $17,112,000. Moody Aldrich Partners LLC acquired a new stake in shares of Colfax Corp. during the first quarter worth about $371,000. Aperio Group LLC raised its stake in shares of Colfax Corp. by 9.8% in the first quarter. Aperio Group LLC now owns 72,844 shares of the company’s stock worth $2,083,000 after buying an additional 6,500 shares during the last quarter. Ramsey Quantitative Systems raised its stake in shares of Colfax Corp. by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 23,391 shares of the company’s stock worth $669,000 after buying an additional 1,212 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Colfax Corp. by 7.5% in the first quarter. TIAA CREF Investment Management LLC now owns 278,921 shares of the company’s stock worth $7,974,000 after buying an additional 19,533 shares during the last quarter. Hedge funds and other institutional investors own 78.33% of the company’s stock.
Colfax Corp. (NYSE:CFX) opened at 28.89 on Thursday. Colfax Corp. has a 52-week low of $18.22 and a 52-week high of $33.63. The company’s 50-day moving average price is $29.80 and its 200 day moving average price is $28.73. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 28.63 and a beta of 1.69.
Colfax Corp. (NYSE:CFX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $957.20 million for the quarter, compared to analyst estimates of $943.50 million. Colfax Corp. had a return on equity of 5.55% and a net margin of 3.23%. Colfax Corp.’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. Equities research analysts predict that Colfax Corp. will post $0.74 earnings per share for the current year.
CFX has been the topic of a number of research analyst reports. Barclays PLC raised Colfax Corp. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $24.00 to $26.00 in a research note on Wednesday, May 25th. They noted that the move was a valuation call. Cowen and Company reissued a “buy” rating on shares of Colfax Corp. in a research note on Friday, June 10th. Finally, Citigroup Inc. raised their price target on Colfax Corp. from $25.00 to $26.00 and gave the stock a “sell” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.17.
Colfax Corp. 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 commercial and governmental customers around the world under Howden, ESAB and Colfax Fluid Handling brand names. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology.
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