Goldman Sachs Group Inc. Cuts Stake in Colfax Corp (NYSE:CFX)

Goldman Sachs Group Inc. trimmed its position in shares of Colfax Corp (NYSE:CFX) by 25.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,213,955 shares of the industrial products company’s stock after selling 409,890 shares during the period. Goldman Sachs Group Inc.’s holdings in Colfax were worth $44,163,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sowell Financial Services LLC purchased a new stake in Colfax during the 4th quarter valued at about $38,000. Cullen Frost Bankers Inc. grew its position in Colfax by 457.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,104 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 906 shares during the last quarter. Americana Partners LLC purchased a new stake in Colfax during the 4th quarter valued at about $50,000. CSat Investment Advisory L.P. grew its position in Colfax by 940.5% during the 4th quarter. CSat Investment Advisory L.P. now owns 2,570 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 2,323 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in Colfax during the 4th quarter valued at about $146,000. 96.60% of the stock is currently owned by institutional investors.

In related news, CEO Matthew L. Trerotola sold 22,317 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $36.84, for a total value of $822,158.28. Following the transaction, the chief executive officer now owns 203,287 shares of the company’s stock, valued at $7,489,093.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.00% of the company’s stock.

CFX has been the topic of a number of recent analyst reports. Cowen raised their price target on shares of Colfax from $40.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, February 24th. Robert W. Baird raised their price target on shares of Colfax from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. CIBC raised shares of Colfax to an “outperformer” rating and raised their price target for the company from $10.00 to $12.00 in a report on Monday, January 13th. Bank of America raised shares of Colfax from a “neutral” rating to a “buy” rating in a report on Tuesday, December 17th. Finally, KeyCorp raised their price target on shares of Colfax from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $31.86.

CFX opened at $19.39 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 0.69. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -5.00, a PEG ratio of 0.89 and a beta of 1.45. The company’s 50 day moving average is $30.32 and its 200 day moving average is $32.55. Colfax Corp has a 12-month low of $12.23 and a 12-month high of $39.30.

Colfax (NYSE:CFX) last posted its quarterly earnings data on Friday, February 21st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $888.40 million for the quarter, compared to the consensus estimate of $885.30 million. Colfax had a negative net margin of 14.45% and a positive return on equity of 9.12%. The firm’s revenue was up 54.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, analysts predict that Colfax Corp will post 2.05 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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