Bank of America Corp DE Trims Holdings in Colfax Corp (CFX)

Bank of America Corp DE trimmed its stake in Colfax Corp (NYSE:CFX) by 44.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 274,445 shares of the industrial products company’s stock after selling 219,441 shares during the period. Bank of America Corp DE’s holdings in Colfax were worth $5,736,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CFX. SG Americas Securities LLC acquired a new position in shares of Colfax during the fourth quarter valued at about $112,000. Group One Trading L.P. bought a new position in shares of Colfax during the fourth quarter valued at about $121,000. Citigroup Inc. lifted its position in shares of Colfax by 457.7% during the fourth quarter. Citigroup Inc. now owns 8,065 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 6,619 shares in the last quarter. Signition LP bought a new position in shares of Colfax during the fourth quarter valued at about $209,000. Finally, Quantamental Technologies LLC bought a new position in shares of Colfax during the fourth quarter valued at about $220,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

In other Colfax news, CEO Ian Brander sold 4,260 shares of Colfax stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $27.01, for a total value of $115,062.60. Following the sale, the chief executive officer now owns 21,876 shares of the company’s stock, valued at $590,870.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Lynn H. Clark sold 2,666 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $26.50, for a total transaction of $70,649.00. Following the completion of the sale, the senior vice president now directly owns 35,662 shares in the company, valued at approximately $945,043. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.

Shares of CFX stock opened at $30.37 on Monday. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.94 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.22 and a current ratio of 1.63. Colfax Corp has a 52 week low of $18.95 and a 52 week high of $37.05.

Colfax (NYSE:CFX) last announced its quarterly earnings data on Wednesday, February 13th. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $982.49 million. Colfax had a net margin of 3.82% and a return on equity of 7.79%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Research analysts predict that Colfax Corp will post 2.6 earnings per share for the current year.

A number of research analysts recently weighed in on CFX shares. Goldman Sachs Group started coverage on shares of Colfax in a research report on Friday, April 5th. They set a “buy” rating and a $34.00 price target on the stock. CIBC reissued an “average” rating and set a $20.00 price target on shares of Colfax in a research report on Monday, January 14th. Zacks Investment Research reissued a “buy” rating and set a $22.00 price target on shares of Colfax in a research report on Monday, December 31st. Oppenheimer reissued a “buy” rating on shares of Colfax in a research report on Thursday, February 14th. Finally, Barclays raised shares of Colfax from an “underweight” rating to an “equal weight” rating and set a $28.70 price target on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.51.

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About Colfax

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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