State Street Corp raised its stake in Colfax Corp (NYSE:CFX) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,236,202 shares of the company’s stock after buying an additional 17,000 shares during the period. State Street Corp’s holdings in Colfax Corp were worth $44,418,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CFX. TIAA CREF Investment Management LLC boosted its position in shares of Colfax Corp by 5.7% in the third quarter. TIAA CREF Investment Management LLC now owns 680,801 shares of the company’s stock valued at $21,398,000 after buying an additional 36,447 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Colfax Corp by 2.6% in the third quarter. PNC Financial Services Group Inc. now owns 531,228 shares of the company’s stock valued at $16,695,000 after buying an additional 13,372 shares during the period. Bank of Montreal Can boosted its position in shares of Colfax Corp by 1.0% in the third quarter. Bank of Montreal Can now owns 216,982 shares of the company’s stock valued at $6,820,000 after buying an additional 2,209 shares during the period. Strs Ohio boosted its position in shares of Colfax Corp by 100.0% in the third quarter. Strs Ohio now owns 1,000,000 shares of the company’s stock valued at $31,430,000 after buying an additional 500,000 shares during the period. Finally, Motley Fool Wealth Management LLC boosted its position in shares of Colfax Corp by 1.5% in the fourth quarter. Motley Fool Wealth Management LLC now owns 211,155 shares of the company’s stock valued at $7,587,000 after buying an additional 3,157 shares during the period. Hedge funds and other institutional investors own 79.74% of the company’s stock.
Shares of Colfax Corp (NYSE:CFX) opened at 39.16 on Tuesday. The firm’s 50-day moving average is $39.40 and its 200-day moving average is $35.19. The company has a market cap of $4.81 billion, a PE ratio of 37.65 and a beta of 1.52. Colfax Corp has a 1-year low of $24.62 and a 1-year high of $41.99.
Colfax Corp (NYSE:CFX) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Colfax Corp had a net margin of 3.51% and a return on equity of 6.02%. The company earned $930 million during the quarter, compared to analyst estimates of $952.83 million. During the same quarter in the previous year, the business earned $0.51 EPS. The firm’s revenue was down 12.0% on a year-over-year basis. On average, equities analysts forecast that Colfax Corp will post $1.65 earnings per share for the current fiscal year.
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Several equities analysts have recently weighed in on CFX shares. Royal Bank of Canada upgraded shares of Colfax Corp from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $32.00 to $43.00 in a research note on Friday, January 13th. Stifel Nicolaus increased their price objective on shares of Colfax Corp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Seaport Global Securities upgraded shares of Colfax Corp from an “accumulate” rating to a “buy” rating in a research note on Wednesday, February 1st. Argus upgraded shares of Colfax Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, January 31st. Finally, Zacks Investment Research upgraded shares of Colfax Corp from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Monday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $36.41.
In other news, CEO Matthew L. Trerotola sold 16,929 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $36.75, for a total value of $622,140.75. Following the completion of the transaction, the chief executive officer now owns 60,856 shares of the company’s stock, valued at approximately $2,236,458. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is owned by insiders.
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 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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