IDEX Corporation $IEX Shares Bought by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in IDEX Corporation by 60.2% in Q1, now holding 18,627 shares valued at approximately $3.37 million.
• IDEX reported a quarterly earnings of $2.07 per share, exceeding the consensus estimate by $0.07, and revenue increased 7.2% year-over-year to $865.4 million.
• The company announced a quarterly dividend of $0.71, yielding 1.8%, with a payout ratio of 45.88% as of the latest report.

Canada Pension Plan Investment Board lifted its stake in IDEX Corporation (NYSE:IEX - Free Report) by 60.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,627 shares of the industrial products company's stock after purchasing an additional 7,000 shares during the quarter. Canada Pension Plan Investment Board's holdings in IDEX were worth $3,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of IDEX by 19.7% in the 1st quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company's stock worth $914,007,000 after purchasing an additional 831,005 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of IDEX by 11.5% in the 1st quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after purchasing an additional 207,172 shares during the period. Invesco Ltd. boosted its holdings in shares of IDEX by 15.4% in the 1st quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company's stock worth $279,682,000 after purchasing an additional 206,633 shares during the period. Fenimore Asset Management Inc boosted its holdings in IDEX by 2.0% during the 1st quarter. Fenimore Asset Management Inc now owns 855,951 shares of the industrial products company's stock valued at $154,901,000 after acquiring an additional 16,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in IDEX by 15.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 747,554 shares of the industrial products company's stock valued at $156,456,000 after acquiring an additional 102,129 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

Analyst Ratings Changes

IEX has been the subject of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Citigroup boosted their price objective on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. Royal Bank Of Canada dropped their price objective on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Oppenheimer dropped their price objective on IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, DA Davidson set a $180.00 price objective on IDEX and gave the company a "neutral" rating in a report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, IDEX has a consensus rating of "Moderate Buy" and a consensus price target of $201.71.

IDEX Stock Down 0.1%

Shares of IEX traded down $0.14 during trading hours on Friday, hitting $164.72. The company had a trading volume of 647,510 shares, compared to its average volume of 681,755. The company has a market capitalization of $12.40 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The company's fifty day moving average price is $171.74 and its two-hundred day moving average price is $177.04.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.00 by $0.07. The firm had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.06 EPS. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. As a group, equities analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's dividend payout ratio is currently 45.88%.

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.