Proficio Capital Partners LLC Purchases New Position in IDEX Co. (NYSE:IEX)

Proficio Capital Partners LLC purchased a new stake in IDEX Co. (NYSE:IEX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 48,794 shares of the industrial products company’s stock, valued at approximately $10,212,000. Proficio Capital Partners LLC owned about 0.06% of IDEX at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in IDEX by 0.5% in the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock valued at $647,356,000 after acquiring an additional 15,077 shares during the last quarter. Wellington Management Group LLP lifted its position in IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after acquiring an additional 1,472,456 shares during the last quarter. Geode Capital Management LLC increased its stake in IDEX by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock valued at $404,339,000 after purchasing an additional 23,388 shares during the period. Champlain Investment Partners LLC increased its stake in IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after purchasing an additional 273,460 shares during the period. Finally, Barclays PLC increased its stake in IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after purchasing an additional 14,360 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IEX has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup dropped their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada dropped their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, DA Davidson dropped their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.71.

IDEX Stock Up 2.4 %

IEX stock opened at $182.47 on Friday. The company has a market cap of $13.83 billion, a P/E ratio of 27.44, a P/E/G ratio of 1.98 and a beta of 0.99. IDEX Co. has a 52 week low of $177.71 and a 52 week high of $246.36. The company’s 50-day moving average price is $202.65 and its 200 day moving average price is $210.60. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, research analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Company Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.