Victory Capital Management Inc. grew its position in Colfax Corporation (NYSE:CFX) by 82.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,897,556 shares of the industrial products company’s stock after acquiring an additional 1,306,927 shares during the quarter. Victory Capital Management Inc. owned about 2.36% of Colfax Corporation worth $120,655,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFX. JPMorgan Chase & Co. lifted its position in shares of Colfax Corporation by 39.0% in the first quarter. JPMorgan Chase & Co. now owns 22,053 shares of the industrial products company’s stock valued at $866,000 after acquiring an additional 6,183 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Colfax Corporation by 121.6% in the first quarter. Wellington Management Group LLP now owns 225,381 shares of the industrial products company’s stock valued at $8,849,000 after acquiring an additional 123,685 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Colfax Corporation by 25.3% in the first quarter. Legal & General Group Plc now owns 92,972 shares of the industrial products company’s stock valued at $3,648,000 after acquiring an additional 18,785 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Colfax Corporation by 8.6% in the first quarter. Geode Capital Management LLC now owns 762,209 shares of the industrial products company’s stock valued at $29,924,000 after acquiring an additional 60,677 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Colfax Corporation in the first quarter valued at approximately $5,830,000. Institutional investors and hedge funds own 75.39% of the company’s stock.
In related news, SVP Stephen Wittig sold 29,189 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $39.30, for a total value of $1,147,127.70. Following the sale, the senior vice president now owns 15,479 shares of the company’s stock, valued at approximately $608,324.70. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.60% of the stock is currently owned by corporate insiders.
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Several research firms have recently weighed in on CFX. BidaskClub upgraded Colfax Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. KeyCorp restated a “buy” rating and issued a $46.00 target price on shares of Colfax Corporation in a research report on Tuesday, September 26th. Wolfe Research began coverage on Colfax Corporation in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Citigroup Inc. restated a “sell” rating and issued a $40.00 target price (up previously from $39.00) on shares of Colfax Corporation in a research report on Monday, October 9th. Finally, Zacks Investment Research upgraded Colfax Corporation from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Colfax Corporation currently has an average rating of “Hold” and a consensus target price of $46.50.
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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