Electron Capital Partners LLC Reduces Holdings in Cognex Corporation $CGNX

Key Points

• Electron Capital Partners cut its Cognex position by 38.5% in the fourth quarter, leaving it with 852,984 shares worth about $30.7 million and making CGNX its 25th-largest holding.
• Cognex reported strong quarterly results, with EPS of $0.34 versus $0.25 expected and revenue of $268.44 million, up 24.3% year over year; the company also issued Q2 guidance of $0.40 to $0.44 EPS.
• Analyst sentiment remains positive overall, with a Moderate Buy consensus and average price target of $70.43, though recent insider selling and mixed ratings were also noted.

Electron Capital Partners LLC decreased its holdings in shares of Cognex Corporation (NASDAQ:CGNX - Free Report) by 38.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 852,984 shares of the scientific and technical instruments company's stock after selling 532,958 shares during the period. Cognex makes up approximately 1.4% of Electron Capital Partners LLC's investment portfolio, making the stock its 25th largest holding. Electron Capital Partners LLC owned 0.51% of Cognex worth $30,690,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Cognex by 2.1% during the third quarter. Vanguard Group Inc. now owns 18,598,728 shares of the scientific and technical instruments company's stock worth $842,522,000 after acquiring an additional 374,999 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cognex by 173,138.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 10,477,448 shares of the scientific and technical instruments company's stock worth $376,979,000 after acquiring an additional 10,471,400 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Cognex by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 8,101,583 shares of the scientific and technical instruments company's stock worth $292,224,000 after acquiring an additional 76,212 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Cognex by 27.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,013,184 shares of the scientific and technical instruments company's stock worth $252,360,000 after acquiring an additional 1,529,010 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Cognex by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,314,896 shares of the scientific and technical instruments company's stock worth $191,231,000 after acquiring an additional 1,258,629 shares during the last quarter. Hedge funds and other institutional investors own 88.12% of the company's stock.

Cognex Trading Down 1.0%

Shares of NASDAQ:CGNX opened at $64.77 on Thursday. Cognex Corporation has a 12-month low of $29.22 and a 12-month high of $71.90. The company has a market capitalization of $10.78 billion, a PE ratio of 77.11 and a beta of 1.52. The business has a 50 day moving average of $60.66 and a two-hundred day moving average of $50.02.

Cognex (NASDAQ:CGNX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.09. Cognex had a return on equity of 10.89% and a net margin of 13.62%.The company had revenue of $268.44 million during the quarter, compared to the consensus estimate of $245.98 million. During the same period in the previous year, the company posted $0.14 earnings per share. Cognex's revenue for the quarter was up 24.3% on a year-over-year basis. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. Equities research analysts predict that Cognex Corporation will post 1.41 earnings per share for the current fiscal year.

Cognex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.085 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.34 dividend on an annualized basis and a yield of 0.5%. Cognex's payout ratio is presently 40.48%.

Analyst Upgrades and Downgrades

CGNX has been the topic of a number of research analyst reports. Sanford C. Bernstein restated an "outperform" rating and set a $75.00 price target on shares of Cognex in a research note on Thursday, May 7th. Weiss Ratings restated a "hold (c)" rating on shares of Cognex in a research note on Friday, May 15th. Needham & Company LLC boosted their price target on Cognex from $67.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Seaport Research Partners set a $75.00 target price on Cognex in a research report on Tuesday, May 26th. Finally, Citigroup reiterated a "neutral" rating and issued a $68.00 target price (up from $60.00) on shares of Cognex in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $70.43.

Insider Buying and Selling at Cognex

In other Cognex news, VP Darren Marc Long sold 20,252 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $66.34, for a total value of $1,343,517.68. Following the completion of the transaction, the vice president directly owned 3,990 shares of the company's stock, valued at approximately $264,696.60. The trade was a 83.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Laura Ann Macdonald sold 98,122 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $66.80, for a total value of $6,554,549.60. Following the completion of the transaction, the vice president directly owned 5,258 shares of the company's stock, valued at $351,234.40. The trade was a 94.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 224,847 shares of company stock valued at $14,975,098. 1.70% of the stock is owned by company insiders.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company's product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.

Want to see what other hedge funds are holding CGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognex Corporation (NASDAQ:CGNX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.