Massachusetts Financial Services Co. MA decreased its stake in Colfax Co. (NYSE:CFX) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,401,797 shares of the industrial products company’s stock after selling 39,414 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.95% of Colfax worth $76,618,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CFX. Itau Unibanco Holding S.A. lifted its stake in shares of Colfax by 225.8% in the fourth quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 3,583 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Colfax by 49.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,264 shares of the industrial products company’s stock worth $209,000 after acquiring an additional 1,731 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Colfax in the fourth quarter worth about $249,000. Ramsey Quantitative Systems acquired a new stake in Colfax during the fourth quarter valued at approximately $281,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in Colfax during the fourth quarter valued at approximately $343,000. 77.48% of the stock is owned by institutional investors.
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Several analysts have issued reports on CFX shares. Robert W. Baird restated a “buy” rating and set a $39.00 price objective on shares of Colfax in a research note on Wednesday, April 4th. Seaport Global Securities restated a “buy” rating on shares of Colfax in a research note on Wednesday, February 7th. Gabelli upgraded Colfax from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. They noted that the move was a valuation call. Stifel Nicolaus cut their price objective on Colfax from $48.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, February 7th. Finally, Argus restated a “buy” rating and set a $33.36 price objective (down previously from $40.00) on shares of Colfax in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. Colfax currently has an average rating of “Hold” and an average target price of $40.48.
In other news, CEO Ian Brander sold 1,240 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $33.46, for a total transaction of $41,490.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Pryor sold 1,682 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.46, for a total value of $56,279.72. The disclosure for this sale can be found here. Insiders have sold 4,175 shares of company stock valued at $139,570 over the last ninety days. Corporate insiders own 10.20% of the company’s stock.
Colfax opened at $32.20 on Tuesday, MarketBeat.com reports. The company has a market cap of $4.00 billion, a PE ratio of 18.20, a P/E/G ratio of 1.02 and a beta of 1.27. Colfax Co. has a 52 week low of $32.26 and a 52 week high of $32.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.97 and a quick ratio of 1.52.
Colfax (NYSE:CFX) last posted its earnings results on Thursday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The company had revenue of $881.00 million during the quarter, compared to analyst estimates of $822.75 million. Colfax had a return on equity of 6.13% and a net margin of 3.84%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. equities research analysts anticipate that Colfax Co. will post 2.15 EPS for the current year.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.