Prospera Private Wealth LLC Makes New $1.62 Million Investment in IDEX Co. (NYSE:IEX)

Prospera Private Wealth LLC acquired a new stake in IDEX Co. (NYSE:IEX) in the 3rd quarter, Holdings Channel reports. The fund acquired 7,571 shares of the industrial products company’s stock, valued at approximately $1,624,000.

A number of other hedge funds have also made changes to their positions in IEX. Premier Fund Managers Ltd increased its position in shares of IDEX by 36.4% during the 3rd quarter. Premier Fund Managers Ltd now owns 300,000 shares of the industrial products company’s stock valued at $64,482,000 after purchasing an additional 80,000 shares during the period. Avior Wealth Management LLC grew its holdings in IDEX by 3.1% during the third quarter. Avior Wealth Management LLC now owns 2,463 shares of the industrial products company’s stock worth $528,000 after acquiring an additional 73 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in IDEX in the third quarter worth about $1,266,000. Swiss National Bank lifted its holdings in IDEX by 0.3% in the 3rd quarter. Swiss National Bank now owns 224,600 shares of the industrial products company’s stock valued at $48,177,000 after acquiring an additional 600 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of IDEX by 42.5% during the 3rd quarter. Natixis Advisors LLC now owns 37,035 shares of the industrial products company’s stock valued at $7,944,000 after purchasing an additional 11,046 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Price Performance

Shares of IEX opened at $223.61 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The firm’s 50 day moving average price is $213.32 and its 200 day moving average price is $207.65. The firm has a market cap of $16.93 billion, a PE ratio of 34.61, a PEG ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the prior year, the company posted $2.12 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, research analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is 42.72%.

Wall Street Analyst Weigh In

Several research firms recently commented on IEX. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. TD Cowen reduced their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. DA Davidson lowered their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus raised their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price objective on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Company 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.