Impax Asset Management Group plc Reduces Holdings in IDEX Co. (NYSE:IEX)

Impax Asset Management Group plc lowered its position in IDEX Co. (NYSE:IEX) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,799,552 shares of the industrial products company’s stock after selling 92,415 shares during the quarter. IDEX comprises 1.7% of Impax Asset Management Group plc’s investment portfolio, making the stock its 15th largest holding. Impax Asset Management Group plc’s holdings in IDEX were worth $376,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of IDEX by 41.9% in the third quarter. Blue Trust Inc. now owns 481 shares of the industrial products company’s stock valued at $97,000 after purchasing an additional 142 shares during the period. Assenagon Asset Management S.A. grew its stake in IDEX by 27.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 67,650 shares of the industrial products company’s stock valued at $14,511,000 after buying an additional 14,457 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in IDEX during the 3rd quarter valued at $248,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of IDEX by 19.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,887 shares of the industrial products company’s stock worth $1,696,000 after acquiring an additional 1,257 shares in the last quarter. Finally, Forsta AP Fonden boosted its holdings in shares of IDEX by 6.7% in the third quarter. Forsta AP Fonden now owns 24,000 shares of the industrial products company’s stock worth $5,148,000 after acquiring an additional 1,500 shares during the period. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Down 1.6 %

IEX stock opened at $192.96 on Monday. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The stock has a market cap of $14.61 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $209.69 and its 200 day moving average is $211.68.

IDEX (NYSE:IEX) last issued its quarterly earnings results 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%. Sell-side analysts predict that IDEX Co. will post 8.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IEX has been the topic of a number of analyst reports. Royal Bank of Canada decreased their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus upped their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Citigroup lowered their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Robert W. Baird reduced their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, DA Davidson lowered their target price 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX 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.