Oak Ridge Investments LLC Acquires New Holdings in Colfax Corporation (CFX)
Oak Ridge Investments LLC acquired a new position in Colfax Corporation (NYSE:CFX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,170,568 shares of the industrial products company’s stock, valued at approximately $46,085,000. Colfax Corporation makes up approximately 1.5% of Oak Ridge Investments LLC’s investment portfolio, making the stock its 23rd largest position. Oak Ridge Investments LLC owned approximately 0.95% of Colfax Corporation at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CFX. Bronfman E.L. Rothschild L.P. boosted its holdings in Colfax Corporation by 4,167.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,603 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 2,542 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Colfax Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 323 shares in the last quarter. M&T Bank Corp bought a new stake in Colfax Corporation in the first quarter worth $214,000. Alambic Investment Management L.P. bought a new stake in Colfax Corporation in the first quarter worth $254,000. Finally, Laurion Capital Management LP bought a new stake in Colfax Corporation in the first quarter worth $263,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.
In related news, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total transaction of $146,998.62. Following the completion of the sale, the executive vice president now owns 40,224 shares of the company’s stock, valued at approximately $1,654,413.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.60% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/10/oak-ridge-investments-llc-acquires-new-holdings-in-colfax-corporation-cfx.html.
A number of equities research analysts recently issued reports on CFX shares. Zacks Investment Research upgraded shares of Colfax Corporation from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a report on Tuesday, May 16th. Credit Suisse Group initiated coverage on shares of Colfax Corporation in a report on Thursday, May 18th. They set an “outperform” rating and a $47.00 price target for the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Colfax Corporation in a report on Tuesday, May 23rd. CIBC restated a “hold” rating on shares of Colfax Corporation in a report on Wednesday, May 24th. Finally, Seaport Global Securities restated a “buy” rating on shares of Colfax Corporation in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $46.44.
Colfax Corporation (NYSE CFX) traded up 0.81% during midday trading on Friday, hitting $39.68. 509,473 shares of the company traded hands. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 31.22 and a beta of 1.35. The stock’s 50-day moving average price is $39.97 and its 200 day moving average price is $39.58. Colfax Corporation has a 12-month low of $27.76 and a 12-month high of $42.75.
Colfax Corporation (NYSE:CFX) last announced its earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $965.83 million during the quarter, compared to the consensus estimate of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. Colfax Corporation’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, equities analysts forecast that Colfax Corporation will post $1.73 EPS for the current year.
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.
Want to see what other hedge funds are holding CFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colfax Corporation (NYSE:CFX).
Receive News & Stock Ratings for Colfax Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colfax Corporation and related stocks with our FREE daily email newsletter.