Los Angeles Capital Management & Equity Research Inc. Takes Position in Colfax Corp. (CFX)
Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Colfax Corp. (NYSE:CFX) during the second quarter, Holdings Channel reports. The institutional investor purchased 20,170 shares of the company’s stock, valued at approximately $534,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Colfax Corp. during the fourth quarter valued at approximately $17,112,000. Strs Ohio purchased a new position in shares of Colfax Corp. during the second quarter valued at approximately $13,230,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Colfax Corp. during the first quarter valued at approximately $9,250,000. Emerald Acquisition Ltd. purchased a new position in shares of Colfax Corp. during the second quarter valued at approximately $6,018,000. Finally, Bank of Montreal Can purchased a new position in shares of Colfax Corp. during the second quarter valued at approximately $5,683,000. 78.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Colfax Corp. (NYSE:CFX) traded down 2.27% during trading on Friday, reaching $29.24. 424,643 shares of the company were exchanged. The firm has a market capitalization of $3.59 billion, a P/E ratio of 28.98 and a beta of 1.69. The firm’s 50 day moving average is $29.84 and its 200 day moving average is $28.74. Colfax Corp. has a 1-year low of $18.22 and a 1-year high of $33.63.
Colfax Corp. (NYSE:CFX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Colfax Corp. had a return on equity of 5.55% and a net margin of 3.23%. The company had revenue of $957.20 million for the quarter, compared to analyst estimates of $943.50 million. During the same quarter in the prior year, the firm posted $0.50 EPS. Colfax Corp.’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Colfax Corp. will post $0.74 EPS for the current fiscal year.
Several brokerages recently commented on CFX. Citigroup Inc. lifted their target price on shares of Colfax Corp. from $25.00 to $26.00 and gave the stock a “sell” rating in a research note on Friday, July 29th. Barclays PLC reaffirmed an “equal weight” rating and issued a $28.00 target price (up from $26.00) on shares of Colfax Corp. in a research note on Monday, July 18th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Colfax Corp. in a research note on Friday, June 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Colfax Corp. has a consensus rating of “Hold” and a consensus price target of $30.17.
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 commercial and governmental customers around the world under Howden, ESAB and Colfax Fluid Handling brand names. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology.
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