Bank of America Corp DE Has $21.44 Million Position in Colfax Corporation (CFX)
Bank of America Corp DE increased its position in shares of Colfax Corporation (NYSE:CFX) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 546,214 shares of the industrial products company’s stock after buying an additional 17,593 shares during the period. Bank of America Corp DE owned approximately 0.44% of Colfax Corporation worth $21,444,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. M&T Bank Corp bought a new position in shares of Colfax Corporation during the first quarter worth approximately $214,000. Fox Run Management L.L.C. acquired a new stake in Colfax Corporation during the first quarter worth about $251,000. Alambic Investment Management L.P. acquired a new stake in Colfax Corporation during the first quarter worth about $254,000. Russell Investments Group Ltd. acquired a new stake in Colfax Corporation during the fourth quarter worth about $256,000. Finally, Laurion Capital Management LP acquired a new stake in Colfax Corporation during the first quarter worth about $263,000. 77.27% of the stock is currently owned by institutional investors and hedge funds.
Colfax Corporation (CFX) traded up 0.22% on Thursday, reaching $41.27. The company’s stock had a trading volume of 677,479 shares. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 32.50 and a beta of 1.37. The firm’s 50-day moving average price is $39.94 and its 200-day moving average price is $39.56. Colfax Corporation has a 52-week low of $27.75 and a 52-week high of $42.75.
Colfax Corporation (NYSE:CFX) last issued its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Colfax Corporation had a return on equity of 6.40% and a net margin of 4.35%. The firm had revenue of $965.83 million for the quarter, compared to analyst estimates of $940.31 million. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts expect that Colfax Corporation will post $1.74 earnings per share for the current year.
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A number of brokerages have commented on CFX. Zacks Investment Research downgraded Colfax Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird upgraded Colfax Corporation from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $47.00 to $50.00 in a research report on Monday. BidaskClub downgraded Colfax Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Colfax Corporation in a research report on Friday, July 14th. Finally, Wolfe Research assumed coverage on Colfax Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $46.00.
In related news, SVP A. Lynne Puckett sold 10,882 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $40.14, for a total transaction of $436,803.48. Following the completion of the transaction, the senior vice president now owns 40,907 shares of the company’s stock, valued at $1,642,006.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 11,547 shares of company stock valued at $463,265. Company insiders own 10.60% of the company’s stock.
About Colfax Corporation
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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