Wells Fargo & Company MN Acquires 33,613 Shares of Colfax Corp (CFX)

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Wells Fargo & Company MN increased its holdings in Colfax Corp (NYSE:CFX) by 10.1% in the third quarter, HoldingsChannel reports. The firm owned 364,927 shares of the industrial products company’s stock after purchasing an additional 33,613 shares during the period. Wells Fargo & Company MN’s holdings in Colfax were worth $13,159,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BNP Paribas Arbitrage SA grew its stake in shares of Colfax by 182.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 3,150 shares during the period. Aperio Group LLC grew its stake in shares of Colfax by 34.4% during the 2nd quarter. Aperio Group LLC now owns 70,761 shares of the industrial products company’s stock valued at $2,169,000 after acquiring an additional 18,120 shares during the period. TD Asset Management Inc. grew its stake in shares of Colfax by 4.7% during the 2nd quarter. TD Asset Management Inc. now owns 223,000 shares of the industrial products company’s stock valued at $6,835,000 after acquiring an additional 10,000 shares during the period. Engineers Gate Manager LP grew its stake in shares of Colfax by 531.0% during the 2nd quarter. Engineers Gate Manager LP now owns 113,633 shares of the industrial products company’s stock valued at $3,483,000 after acquiring an additional 95,625 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Colfax during the 2nd quarter valued at approximately $129,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.

In other Colfax news, SVP A. Lynne Puckett sold 2,540 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $26.18, for a total value of $66,497.20. Following the completion of the transaction, the senior vice president now directly owns 54,818 shares in the company, valued at approximately $1,435,135.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ian Brander sold 3,232 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $26.18, for a total value of $84,613.76. Following the completion of the transaction, the chief executive officer now owns 26,136 shares of the company’s stock, valued at $684,240.48. The disclosure for this sale can be found here. Insiders sold a total of 6,892 shares of company stock valued at $183,658 over the last 90 days. 10.20% of the stock is currently owned by corporate insiders.

CFX stock opened at $23.05 on Friday. Colfax Corp has a 1-year low of $22.89 and a 1-year high of $42.08. The company has a quick ratio of 1.37, a current ratio of 1.83 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.75 and a beta of 1.53.

Colfax (NYSE:CFX) last posted its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Colfax had a return on equity of 6.97% and a net margin of 3.03%. The business had revenue of $875.37 million during the quarter, compared to the consensus estimate of $893.38 million. On average, sell-side analysts expect that Colfax Corp will post 2.25 EPS for the current fiscal year.

A number of research analysts recently issued reports on the company. Oppenheimer reiterated a “buy” rating on shares of Colfax in a research note on Monday, November 19th. Morgan Stanley cut their price objective on Colfax from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $35.00 price objective on shares of Colfax in a research note on Monday, October 29th. Argus cut their price objective on Colfax from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, Deutsche Bank set a $30.00 price objective on Colfax and gave the company a “hold” rating in a research note on Friday, October 26th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.77.

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Colfax Profile

Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.

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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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