California Public Employees Retirement System boosted its position in Colfax Corp (NYSE:CFX) by 12.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 231,427 shares of the industrial products company’s stock after buying an additional 25,366 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Colfax worth $7,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. increased its position in 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 buying an additional 3,583 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 during the period. Ramsey Quantitative Systems bought a new position in shares of Colfax in the fourth quarter worth $281,000. Xact Kapitalforvaltning AB bought a new position in shares of Colfax in the fourth quarter worth $343,000. Finally, Gamco Investors INC. ET AL bought a new position in shares of Colfax in the first quarter worth $306,000. 77.00% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. Oppenheimer reaffirmed a “hold” rating on shares of Colfax in a report on Thursday, May 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $39.00 price target on shares of Colfax in a report on Wednesday, April 4th. Stifel Nicolaus cut their price target on Colfax from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, May 4th. Citigroup cut their price target on Colfax from $30.00 to $28.00 and set a “sell” rating for the company in a report on Friday, May 4th. Finally, Royal Bank of Canada lowered Colfax from an “outperform” rating to a “sector perform” rating and set a $43.00 price target for the company. in a report on Friday, May 4th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.82.
In related news, insider Shyam Kambeyanda sold 873 shares of Colfax stock in a transaction on Monday, May 14th. The stock was sold at an average price of $32.48, for a total transaction of $28,355.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is currently owned by company insiders.
NYSE:CFX opened at $30.15 on Friday. The firm has a market cap of $3.72 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.24. Colfax Corp has a 52-week low of $28.80 and a 52-week high of $43.29. 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 quarterly earnings data on Thursday, May 3rd. The industrial products company reported $0.48 earnings per share (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 firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. equities research analysts anticipate that Colfax Corp will post 2.14 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.
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