Envestnet Portfolio Solutions Inc. Has $1.28 Million Position in IDEX Co. (NYSE:IEX)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of IDEX Co. (NYSE:IEXFree Report) by 46.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,894 shares of the industrial products company’s stock after selling 5,146 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in IDEX were worth $1,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its stake in shares of IDEX by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock worth $892,000 after acquiring an additional 53 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of IDEX by 6.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,780 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 111 shares during the period. Orion Portfolio Solutions LLC raised its position in shares of IDEX by 25.4% during the third quarter. Orion Portfolio Solutions LLC now owns 13,250 shares of the industrial products company’s stock valued at $2,756,000 after buying an additional 2,684 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of IDEX by 5.4% in the third quarter. New Mexico Educational Retirement Board now owns 3,900 shares of the industrial products company’s stock valued at $811,000 after buying an additional 200 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in IDEX by 37.4% during the third quarter. Daiwa Securities Group Inc. now owns 12,095 shares of the industrial products company’s stock worth $2,516,000 after buying an additional 3,293 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and lifted their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $250.71.

Read Our Latest Analysis on IDEX

IDEX Price Performance

Shares of IDEX stock opened at $222.33 on Friday. The stock has a market capitalization of $16.83 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 2.23 and a beta of 0.99. The firm’s 50-day moving average price is $232.47 and its two-hundred day moving average price is $219.51. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36.

IDEX (NYSE:IEXGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. On average, equities analysts predict that IDEX Co. will post 8.31 earnings per share for the current fiscal year.

IDEX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.69 per share. This is an increase from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, May 16th. This represents a $2.76 annualized dividend and a yield of 1.24%. IDEX’s dividend payout ratio is 36.32%.

IDEX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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