Principal Financial Group Inc. Acquires 20,102 Shares of Innovex International, Inc. (NYSE:INVX)

Principal Financial Group Inc. grew its holdings in Innovex International, Inc. (NYSE:INVX) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,458 shares of the company’s stock after purchasing an additional 20,102 shares during the period. Principal Financial Group Inc. owned about 0.27% of Innovex International worth $2,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. bought a new stake in shares of Innovex International in the 3rd quarter worth $2,261,000. Legato Capital Management LLC increased its position in Innovex International by 68.6% during the fourth quarter. Legato Capital Management LLC now owns 148,794 shares of the company’s stock valued at $2,079,000 after acquiring an additional 60,554 shares during the last quarter. Rhumbline Advisers increased its position in Innovex International by 4.0% during the fourth quarter. Rhumbline Advisers now owns 112,143 shares of the company’s stock valued at $1,567,000 after acquiring an additional 4,297 shares during the last quarter. Barclays PLC purchased a new stake in Innovex International during the third quarter valued at $874,000. Finally, Empowered Funds LLC increased its position in Innovex International by 5.0% during the fourth quarter. Empowered Funds LLC now owns 53,745 shares of the company’s stock valued at $751,000 after acquiring an additional 2,569 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INVX. Barclays reduced their price objective on Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a research report on Tuesday, November 26th. Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th.

Innovex International Stock Down 1.4 %

Shares of INVX opened at $17.00 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The stock has a 50-day moving average of $16.07. The stock has a market capitalization of $1.14 billion, a PE ratio of 12.06 and a beta of 0.89. Innovex International, Inc. has a 52 week low of $12.54 and a 52 week high of $25.19.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. The business had revenue of $250.69 million during the quarter. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Insiders Place Their Bets

In other Innovex International news, CFO Kendal Reed acquired 3,765 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $13.28 per share, with a total value of $49,999.20. Following the completion of the purchase, the chief financial officer now directly owns 186,232 shares in the company, valued at approximately $2,473,160.96. The trade was a 2.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.10% of the company’s stock.

About Innovex International

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.