Cognex Co. (CGNX) Stake Increased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its holdings in Cognex Co. (NASDAQ:CGNX) by 20.7% in the third quarter, Holdings Channel reports. The institutional investor owned 8,325 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,425 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Cognex were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Analysts LLC lifted its holdings in Cognex by 1,180.6% during the 2nd quarter. Capital Analysts LLC now owns 2,305 shares of the scientific and technical instruments company’s stock worth $103,000 after purchasing an additional 2,125 shares during the last quarter. CAPROCK Group Inc. acquired a new stake in Cognex during the 3rd quarter worth approximately $221,000. Chatham Capital Group Inc. acquired a new stake in Cognex during the 3rd quarter worth approximately $232,000. Advisor Partners LLC lifted its holdings in Cognex by 26.6% during the 2nd quarter. Advisor Partners LLC now owns 5,418 shares of the scientific and technical instruments company’s stock worth $242,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Oakbrook Investments LLC acquired a new stake in Cognex during the 3rd quarter worth approximately $318,000. 90.47% of the stock is owned by institutional investors.

In related news, Director Jerry A. Schneider sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $54.29, for a total transaction of $271,450.00. Following the sale, the director now owns 7,000 shares in the company, valued at approximately $380,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Sun sold 10,000 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $56.04, for a total value of $560,400.00. Following the sale, the director now owns 264,262 shares in the company, valued at approximately $14,809,242.48. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Several analysts recently weighed in on the company. BidaskClub raised Cognex from a “hold” rating to a “buy” rating in a report on Wednesday, September 26th. Zacks Investment Research cut Cognex from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. DA Davidson assumed coverage on Cognex in a report on Tuesday, October 2nd. They set a “neutral” rating and a $57.00 price target for the company. Northcoast Research cut Cognex from a “buy” rating to a “neutral” rating and set a $54.00 price target for the company. in a report on Friday, August 24th. They noted that the move was a valuation call. Finally, ValuEngine raised Cognex from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.76.

Shares of NASDAQ CGNX opened at $40.85 on Monday. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.27 and a beta of 1.90. Cognex Co. has a fifty-two week low of $36.16 and a fifty-two week high of $72.71.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Monday, October 29th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The firm had revenue of $232.22 million during the quarter, compared to analysts’ expectations of $227.15 million. Cognex had a return on equity of 20.88% and a net margin of 18.52%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. Equities research analysts anticipate that Cognex Co. will post 1.2 earnings per share for the current fiscal year.

Cognex announced that its board has approved a share repurchase plan on Monday, October 29th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, November 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Cognex’s previous quarterly dividend of $0.05. Cognex’s payout ratio is currently 13.79%.

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Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. The company offers machine vision products, which are used to automate the manufacturing and tracking of discrete items, such as mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.

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Institutional Ownership by Quarter for Cognex (NASDAQ:CGNX)

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