Goldman Sachs Group Inc. boosted its position in shares of Colfax Corporation (NYSE:CFX) by 10.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 747,503 shares of the industrial products company’s stock after buying an additional 71,410 shares during the period. Goldman Sachs Group Inc.’s holdings in Colfax Corporation were worth $29,347,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Colfax Corporation during the fourth quarter worth approximately $256,000. State Street Corp raised its stake in shares of Colfax Corporation by 1.4% in the fourth quarter. State Street Corp now owns 1,236,202 shares of the industrial products company’s stock worth $44,418,000 after buying an additional 17,000 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Colfax Corporation by 1.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,393 shares of the industrial products company’s stock worth $589,000 after buying an additional 293 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Colfax Corporation during the fourth quarter worth approximately $518,000. Finally, Janus Capital Management LLC raised its stake in shares of Colfax Corporation by 20.3% in the fourth quarter. Janus Capital Management LLC now owns 23,100 shares of the industrial products company’s stock worth $830,000 after buying an additional 3,900 shares in the last quarter. Hedge funds and other institutional investors own 77.15% of the company’s stock.
Colfax Corporation (NYSE CFX) opened at 39.26 on Monday. The company has a 50-day moving average price of $39.73 and a 200 day moving average price of $38.95. Colfax Corporation has a 1-year low of $27.19 and a 1-year high of $41.99. The firm has a market capitalization of $4.83 billion, a P/E ratio of 33.56 and a beta of 1.37.
Colfax Corporation (NYSE:CFX) last posted its quarterly earnings results on Friday, May 5th. The industrial products company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. Colfax Corporation had a return on equity of 6.29% and a net margin of 3.98%. The firm had revenue of $845 million for the quarter, compared to the consensus estimate of $820.23 million. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that Colfax Corporation will post $1.72 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on CFX shares. Zacks Investment Research lowered Colfax Corporation from a “buy” rating to a “hold” rating in a research report on Monday, March 20th. Royal Bank of Canada reiterated a “buy” rating and issued a $43.00 target price on shares of Colfax Corporation in a research report on Friday, March 24th. Barclays PLC upped their target price on Colfax Corporation from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Colfax Corporation in a research report on Sunday, May 7th. Finally, Robert W. Baird upped their price objective on Colfax Corporation from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.29.
In other Colfax Corporation news, SVP A. Lynne Puckett sold 10,882 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total transaction of $436,803.48. Following the sale, the senior vice president now directly owns 40,907 shares in the company, valued at $1,642,006.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 11,547 shares of company stock worth $463,265. 10.60% of the stock is owned by company insiders.
About Colfax Corporation
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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