CI Investments Inc. Acquires 57 Shares of IDEX Co. (NYSE:IEX)

Posted by on May 25th, 2023

CI Investments Inc. increased its holdings in IDEX Co. (NYSE:IEX – Get Rating) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 683 shares of the industrial products company’s stock after purchasing an additional 57 shares during the period. CI Investments Inc.’s holdings in IDEX were worth $156,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in IDEX by 9.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 52,998 shares of the industrial products company’s stock worth $12,163,000 after purchasing an additional 4,488 shares in the last quarter. Bessemer Group Inc. lifted its position in IDEX by 9.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,007 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 90 shares during the last quarter. Wedmont Private Capital acquired a new position in IDEX during the 4th quarter worth $386,000. HBK Sorce Advisory LLC lifted its position in IDEX by 78.4% during the 4th quarter. HBK Sorce Advisory LLC now owns 4,782 shares of the industrial products company’s stock worth $1,092,000 after acquiring an additional 2,102 shares during the last quarter. Finally, Prelude Capital Management LLC acquired a new position in IDEX during the 3rd quarter worth $569,000. 96.58% of the stock is currently owned by institutional investors.

IDEX Price Performance

Shares of IDEX stock opened at $200.16 on Thursday. The company has a current ratio of 3.10, a quick ratio of 2.09 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $15.13 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 2.00 and a beta of 1.00. IDEX Co. has a 1-year low of $172.18 and a 1-year high of $246.23. The firm’s 50-day moving average price is $214.88 and its two-hundred day moving average price is $224.82.

IDEX (NYSE:IEX – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.07. The firm had revenue of $845.40 million for the quarter, compared to analysts’ expectations of $818.87 million. IDEX had a net margin of 17.91% and a return on equity of 21.14%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 earnings per share. On average, equities analysts predict that IDEX Co. will post 8.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

IEX has been the subject of a number of research analyst reports. Oppenheimer boosted their target price on shares of IDEX from $245.00 to $247.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Citigroup cut their target price on shares of IDEX from $273.00 to $268.00 and set a “buy” rating for the company in a research report on Thursday, February 2nd. Sanford C. Bernstein cut their target price on shares of IDEX from $225.00 to $220.00 in a research report on Friday, April 28th. Mizuho cut their price objective on shares of IDEX from $227.00 to $200.00 in a research report on Friday, April 28th. Finally, StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research note on Friday, May 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.17.

IDEX Company Profile

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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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