Bank of Montreal Can Buys New Position in Colfax Corp. (CFX)
Bank of Montreal Can bought a new position in shares of Colfax Corp. (NYSE:CFX) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 214,773 shares of the company’s stock, valued at approximately $5,683,000.
Several other hedge funds have also made changes to their positions in the stock. Boothbay Fund Management LLC acquired a new stake in shares of Colfax Corp. during the first quarter worth approximately $319,000. Fox Run Management L.L.C. acquired a new stake in shares of Colfax Corp. during the second quarter worth approximately $310,000. BlueMountain Capital Management LLC acquired a new stake in shares of Colfax Corp. during the first quarter worth approximately $357,000. Seven Eight Capital LLC boosted its stake in shares of Colfax Corp. by 25.3% in the first quarter. Seven Eight Capital LLC now owns 18,300 shares of the company’s stock worth $523,000 after buying an additional 3,700 shares during the period. Finally, SeaBridge Investment Advisors LLC boosted its stake in shares of Colfax Corp. by 2.3% in the second quarter. SeaBridge Investment Advisors LLC now owns 19,774 shares of the company’s stock worth $523,000 after buying an additional 454 shares during the period. Hedge funds and other institutional investors own 78.33% of the company’s stock.
Colfax Corp. (NYSE:CFX) traded down 2.04% during midday trading on Tuesday, hitting $29.25. 576,638 shares of the stock traded hands. The stock has a market cap of $3.59 billion, a PE ratio of 28.99 and a beta of 1.59. Colfax Corp. has a 12 month low of $18.22 and a 12 month high of $33.63. The company has a 50-day moving average of $29.77 and a 200-day moving average of $28.90.
Colfax Corp. (NYSE:CFX) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. The company had revenue of $957.20 million for the quarter, compared to analyst estimates of $943.50 million. Colfax Corp. had a return on equity of 5.55% and a net margin of 3.23%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that Colfax Corp. will post $0.71 earnings per share for the current year.
A number of brokerages have recently commented on CFX. Citigroup Inc. boosted their target price on shares of Colfax Corp. from $25.00 to $26.00 and gave the company a “sell” rating in a report on Friday, July 29th. Zacks Investment Research lowered Colfax Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $28.00 price target (up previously from $26.00) on shares of Colfax Corp. in a research report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Colfax Corp. currently has an average rating of “Hold” and a consensus target price of $30.17.
In other news, SVP A. Lynne Puckett sold 21,037 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $31.00, for a total value of $652,147.00. Following the transaction, the senior vice president now owns 20,370 shares of the company’s stock, valued at approximately $631,470. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.50% of the stock is owned by insiders.
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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