Mirova Acquires 6,218 Shares of IDEX Co. (NYSE:IEX)

Mirova boosted its holdings in shares of IDEX Co. (NYSE:IEX) by 32.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,651 shares of the industrial products company’s stock after buying an additional 6,218 shares during the quarter. IDEX accounts for approximately 0.9% of Mirova’s portfolio, making the stock its 29th biggest holding. Mirova’s holdings in IDEX were worth $5,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IEX. Asset Management One Co. Ltd. grew its position in shares of IDEX by 4.2% during the 4th 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 during the period. Assetmark Inc. lifted its position in IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 235 shares in the last quarter. Covea Finance grew its holdings in IDEX by 70.6% during the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after purchasing an additional 6,000 shares during the period. Barclays PLC increased its position in IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after buying an additional 14,360 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock worth $488,000 after buying an additional 495 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

IEX opened at $163.77 on Friday. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.98 and a beta of 1.05. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The company has a fifty day moving average of $182.08 and a 200 day moving average of $204.82.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, sell-side analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IEX shares. DA Davidson reduced their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus reduced their price objective on shares of IDEX from $256.00 to $192.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Citigroup lowered their target price on shares of IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank of Canada cut their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.14.

About IDEX

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.