Tortoise Index Solutions LLC just recently minimized its holdings in IDEX Co. (NYSE:IEX) by 7.5% in the fourth quarter, according to its recent Securities and Exchange Commission (SEC) filing. As of its last filing, the firm owned 16,157 shares worth $1,002,000 after divesting 1,311 shares in the quarter.
IDEX just recently made headlines with its quarterly earnings report on April 26th. The industrial products giant reported an impressive $2.09 EPS for the quarter, exceeding analysts’ average estimate of $2.02 by seven cents. The company posted a 21.14% return on equity and a net margin of 17.91%. IDEX’s Q1 revenues were recorded at $845.4 million vs analyst expectations of $818.87 million – up by a significant 12.6% when compared to revenue recorded during the same period last year.
IDEX Corp primarily engages in engineering solutions and operates under three segments – Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products – providing customers with high-quality displacement pumps, valves, injectors as well as fluid-handling pump modules and systems.
The positive response that IDEX has received from experts has bolstered investor confidence in this industry leader – sell-side analysts are now predicting that IDEX Co will post approximately $8.51 EPS for this fiscal year.
In conclusion, it is safe to say that IDEX can look forward to sustained growth over time if it continues to deliver top-tier results like those reported in Q1 – a testament to its unwavering commitment to excellence across all segments of operations immeasurable prospects for growth going forward!
IEX
Strong Buy
Updated on: 04/06/2023
Institutional Investors and Hedge Funds Alter Holdings in Idex Corporation
Idex Corporation, the engineering solutions provider based in Illinois, has reported that a range of institutional investors and hedge funds have altered their holdings in the company. One new stake that was bought by CCLA Investment Management in Q3 2017 totalled $70.4m. Vanguard Group has increased its stake by 2.8% over the same period to reach a value of $1.83bn across 9.2 million shares. Pictet Asset Management increased its share by 13.7% while Robeco Institutional Asset Management boosted its stake by a remarkable 976%. Fisher Asset Management took a new stake worth approximately $25.9m in the very same quarter too.
