Weitz Investment Management Inc. reduced its stake in Colfax Corp (NYSE:CFX) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,616,450 shares of the industrial products company’s stock after selling 207,000 shares during the quarter. Colfax comprises approximately 2.0% of Weitz Investment Management Inc.’s portfolio, making the stock its 14th biggest holding. Weitz Investment Management Inc.’s holdings in Colfax were worth $47,976,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in Colfax in the fourth quarter valued at $27,000. Pinnacle Bank acquired a new position in Colfax in the fourth quarter valued at $36,000. Quadrant Capital Group LLC increased its stake in Colfax by 264.3% in the first quarter. Quadrant Capital Group LLC now owns 2,211 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 1,604 shares during the last quarter. SG Americas Securities LLC acquired a new position in Colfax in the fourth quarter valued at $112,000. Finally, Toth Financial Advisory Corp acquired a new position in Colfax in the first quarter valued at $128,000. Institutional investors and hedge funds own 93.31% of the company’s stock.
Several equities analysts recently commented on the company. CIBC reiterated a “hold” rating and issued a $15.00 target price on shares of Colfax in a research note on Friday, June 7th. ValuEngine upgraded Colfax from a “strong sell” rating to a “sell” rating in a research note on Monday, June 3rd. Raymond James reiterated a “buy” rating and issued a $21.00 target price on shares of Colfax in a research note on Thursday, May 2nd. Goldman Sachs Group assumed coverage on Colfax in a research note on Friday, April 5th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Longbow Research reiterated a “buy” rating and issued a $38.00 target price on shares of Colfax in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Colfax has a consensus rating of “Buy” and an average price target of $29.52.
Colfax (NYSE:CFX) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.04 billion. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, research analysts anticipate that Colfax Corp will post 2.59 earnings per share for the current year.
In other Colfax news, insider Shyam Kambeyanda sold 11,764 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $26.27, for a total transaction of $309,040.28. Following the completion of the sale, the insider now directly owns 51,263 shares in the company, valued at $1,346,679.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.00% of the company’s stock.
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Colfax Company Profile
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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