Colfax Corporation (CFX) SVP Sells $1,147,127.70 in Stock
Colfax Corporation (NYSE:CFX) SVP Stephen Wittig sold 29,189 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total value of $1,147,127.70. Following the completion of the sale, the senior vice president now owns 15,479 shares of the company’s stock, valued at $608,324.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Colfax Corporation (CFX) traded up 3.12% during mid-day trading on Monday, reaching $40.92. 562,132 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $39.92 and a 200-day moving average price of $39.59. Colfax Corporation has a one year low of $27.75 and a one year high of $42.75. The stock has a market cap of $5.03 billion, a PE ratio of 32.20 and a beta of 1.35.
Colfax Corporation (NYSE:CFX) last released its quarterly earnings data on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The firm had revenue of $965.83 million for the quarter, compared to analysts’ expectations of $940.31 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts predict that Colfax Corporation will post $1.73 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank purchased a new position in shares of Colfax Corporation in the second quarter valued at about $118,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Colfax Corporation in the second quarter valued at about $319,000. Verition Fund Management LLC purchased a new position in shares of Colfax Corporation in the second quarter valued at about $276,000. Nomura Holdings Inc. purchased a new position in shares of Colfax Corporation in the second quarter valued at about $424,000. Finally, DF Dent & Co. Inc. purchased a new position in shares of Colfax Corporation in the second quarter valued at about $457,000. Hedge funds and other institutional investors own 75.23% of the company’s stock.
A number of research firms recently weighed in on CFX. Zacks Investment Research downgraded Colfax Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded Colfax Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Robert W. Baird raised shares of Colfax Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $47.00 to $50.00 in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Colfax Corporation in a research report on Tuesday, May 23rd. Finally, Argus reaffirmed a “buy” rating and set a $50.00 price target on shares of Colfax Corporation in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Colfax Corporation presently has an average rating of “Buy” and a consensus price target of $46.44.
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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