DAVENPORT & Co LLC purchased a new stake in shares of Colfax Corp (NYSE:CFX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 302,217 shares of the industrial products company’s stock, valued at approximately $8,970,000. DAVENPORT & Co LLC owned approximately 0.26% of Colfax as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CFX. Macquarie Group Ltd. acquired a new stake in shares of Colfax during the fourth quarter worth approximately $27,000. Pinnacle Bank acquired a new stake in shares of Colfax during the fourth quarter worth approximately $36,000. SG Americas Securities LLC bought a new stake in shares of Colfax during the fourth quarter valued at approximately $112,000. Group One Trading L.P. bought a new stake in shares of Colfax during the fourth quarter valued at approximately $121,000. Finally, Toth Financial Advisory Corp bought a new stake in shares of Colfax during the first quarter valued at approximately $128,000. Institutional investors and hedge funds own 80.08% of the company’s stock.
In related news, SVP Lynn H. Clark sold 2,666 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 35,662 shares in the company, valued at $945,043. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ian Brander sold 4,260 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $27.01, for a total transaction of $115,062.60. Following the sale, the chief executive officer now owns 21,876 shares in the company, valued at $590,870.76. The disclosure for this sale can be found here. Company insiders own 12.00% of the company’s stock.
Colfax (NYSE:CFX) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.04 billion. Colfax had a net margin of 3.82% and a return on equity of 7.79%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. As a group, equities analysts anticipate that Colfax Corp will post 2.6 earnings per share for the current year.
Several analysts have recently commented on the stock. ValuEngine cut shares of Colfax from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Raymond James reissued a “buy” rating and set a $21.00 price target on shares of Colfax in a research note on Thursday, May 2nd. Goldman Sachs Group assumed coverage on shares of Colfax in a research note on Friday, April 5th. They set a “buy” rating and a $34.00 price target on the stock. Longbow Research reissued a “buy” rating and set a $38.00 price target on shares of Colfax in a research note on Thursday, March 21st. 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 note on Friday, March 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $30.05.
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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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