Wedge Capital Management L L P NC grew its stake in Colfax Corp (NYSE:CFX) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,421,809 shares of the industrial products company’s stock after acquiring an additional 97,081 shares during the period. Wedge Capital Management L L P NC owned 1.21% of Colfax worth $39,853,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. bought a new position in Colfax during the fourth quarter worth about $27,000. Quadrant Capital Group LLC grew its holdings in Colfax by 264.3% during the first quarter. Quadrant Capital Group LLC now owns 2,211 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,604 shares during the period. Nisa Investment Advisors LLC bought a new position in Colfax during the second quarter worth about $83,000. Toth Financial Advisory Corp bought a new position in Colfax during the first quarter worth about $128,000. Finally, LS Investment Advisors LLC acquired a new stake in Colfax during the first quarter worth approximately $151,000. Institutional investors and hedge funds own 94.08% of the company’s stock.
Shares of NYSE CFX traded up $0.48 during midday trading on Tuesday, reaching $26.33. 75,120 shares of the company were exchanged, compared to its average volume of 1,571,798. The company’s 50-day moving average price is $27.03. The stock has a market capitalization of $3.06 billion, a PE ratio of 11.39, a P/E/G ratio of 1.12 and a beta of 1.60. Colfax Corp has a one year low of $18.95 and a one year high of $37.05. The company has a current ratio of 2.27, a quick ratio of 1.90 and a debt-to-equity ratio of 1.29.
In related news, CEO Matthew L. Trerotola sold 18,589 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $28.51, for a total value of $529,972.39. Following the sale, the chief executive officer now owns 225,604 shares of the company’s stock, valued at $6,431,970.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher M. Hix sold 4,750 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $27.08, for a total transaction of $128,630.00. Following the completion of the sale, the chief financial officer now directly owns 29,841 shares in the company, valued at approximately $808,094.28. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.
Several brokerages have issued reports on CFX. Deutsche Bank set a $28.00 price objective on shares of Colfax and gave the stock a “hold” rating in a research report on Wednesday, July 10th. ValuEngine downgraded shares of Colfax from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Raymond James restated a “buy” rating and set a $21.00 price objective on shares of Colfax in a research report on Thursday, May 2nd. Morgan Stanley cut their price objective on shares of Colfax from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, CIBC reiterated a “hold” rating and issued a $15.00 price target on shares of Colfax in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $29.75.
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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