EverSource Wealth Advisors LLC Grows Stock Position in IDEX Co. (NYSE:IEX)

EverSource Wealth Advisors LLC raised its stake in IDEX Co. (NYSE:IEX) by 49.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590 shares of the industrial products company’s stock after purchasing an additional 196 shares during the period. EverSource Wealth Advisors LLC’s holdings in IDEX were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in IEX. Asset Management One Co. Ltd. raised its holdings in IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock valued at $6,386,000 after acquiring an additional 1,209 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of IDEX by 48.3% in the 3rd quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company’s stock valued at $4,426,000 after purchasing an additional 6,720 shares in the last quarter. Assetmark Inc. lifted its position in shares of IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 235 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of IDEX by 7.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company’s stock worth $53,720,000 after purchasing an additional 16,504 shares in the last quarter. Finally, Covea Finance increased its holdings in IDEX by 70.6% in the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after buying an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX opened at $184.83 on Tuesday. The company’s 50 day simple moving average is $202.16 and its 200-day simple moving average is $210.51. IDEX Co. has a 12-month low of $177.71 and a 12-month high of $246.36. The firm has a market cap of $14.01 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. 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 announced its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating 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%. As a group, equities analysts predict that IDEX Co. will post 8.26 EPS for the current year.

Analyst Upgrades and Downgrades

IEX has been the subject of several analyst reports. DA Davidson lowered their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus increased their price target 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 cut their price objective 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. Finally, Royal Bank of Canada dropped their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.