Weitz Investment Management Lowers stake in Colfax Corp (CFX)

Colfax Corp (CFX) : Weitz Investment Management reduced its stake in Colfax Corp by 3.25% during the most recent quarter end. The investment management company now holds a total of 2,202,667 shares of Colfax Corp which is valued at $82,600,013 after selling 73,877 shares in Colfax Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Colfax Corp makes up approximately 3.14% of Weitz Investment Management’s portfolio.

Other Hedge Funds, Including , Lafayette Investments boosted its stake in CFX in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 190,580 shares of Colfax Corp which is valued at $7,146,750. Colfax Corp makes up approx 2.82% of Lafayette Investments’s portfolio. Checchi Capital Advisers sold out all of its stake in CFX during the most recent quarter. The investment firm sold 1,352 shares of CFX which is valued $48,537. Nomura Asset Management Co Ltd sold out all of its stake in CFX during the most recent quarter. The investment firm sold 2,620 shares of CFX which is valued $94,058.Blackrock Group Ltd reduced its stake in CFX by selling 345,699 shares or 82.85% in the most recent quarter. The Hedge Fund company now holds 71,570 shares of CFX which is valued at $2,389,722.Ibm Retirement Fund reduced its stake in CFX by selling 678 shares or 6.83% in the most recent quarter. The Hedge Fund company now holds 9,248 shares of CFX which is valued at $271,799. Colfax Corp makes up approx 0.01% of Ibm Retirement Fund’s portfolio.

Colfax Corp closed down -0.29 points or -0.79% at $36.42 with 6,19,402 shares getting traded on Monday. Post opening the session at $36.8, the shares hit an intraday low of $36.31 and an intraday high of $36.91 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Colfax Corp reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $879.20 million for the quarter, compared to analysts expectations of $892.30 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Colfax Corp. Colfax Corp was Upgraded by Argus to ” Buy” on Nov 14, 2016. Company shares were Reiterated by Stifel on Oct 28, 2016 to “Buy”, Firm has raised the Price Target to $ 37 from a previous price target of $33 .

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and Governmental customers around the world under the Howden ESAB and Colfax Fluid Handling brand names. The Company’s segments include gas and fluid handling and fabrication technology. The gas and fluid handling segment supplies a range of products including heavy-duty centrifugal and axial fans rotary heat exchangers gas compressors pumps fluid-handling systems and controls and specialty valves which serves customers in the power generation oil gas and petrochemical mining marine (including defense) and general industrial and other end markets. Fabrication technology segment formulates develops manufactures and supplies consumable products and equipment for the cutting and joining of steels aluminum and other metals and metal alloys.

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