Envestnet Portfolio Solutions Inc. Sells 2,184 Shares of IDEX Corporation (NYSE:IEX)

Envestnet Portfolio Solutions Inc. lessened its position in IDEX Corporation (NYSE:IEX - Free Report) by 59.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,478 shares of the industrial products company's stock after selling 2,184 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in IDEX were worth $268,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Boston Trust Walden Corp lifted its stake in IDEX by 17.4% in the first quarter. Boston Trust Walden Corp now owns 272,474 shares of the industrial products company's stock valued at $49,310,000 after buying an additional 40,460 shares during the period. Johnson Investment Counsel Inc. boosted its stake in shares of IDEX by 13.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 290,262 shares of the industrial products company's stock worth $52,529,000 after acquiring an additional 35,420 shares during the period. State of Alaska Department of Revenue lifted its holdings in IDEX by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 8,868 shares of the industrial products company's stock valued at $1,604,000 after purchasing an additional 235 shares during the last quarter. Blackston Financial Advisory Group LLC increased its holdings in shares of IDEX by 16.0% in the first quarter. Blackston Financial Advisory Group LLC now owns 2,666 shares of the industrial products company's stock valued at $483,000 after purchasing an additional 367 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in IDEX by 29.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,099 shares of the industrial products company's stock valued at $2,551,000 after acquiring an additional 3,185 shares during the period. Institutional investors own 97.96% of the company's stock.

IDEX Stock Down 0.0%

Shares of NYSE:IEX opened at $176.29 on Monday. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.79 and a quick ratio of 1.99. The stock's 50-day moving average is $179.50 and its 200 day moving average is $190.39. The company has a market cap of $13.32 billion, a PE ratio of 27.94, a P/E/G ratio of 1.79 and a beta of 1.06.

IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 14.60% and a return on equity of 15.51%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $807.25 million. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The business's revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $2.84 annualized dividend and a dividend yield of 1.61%. IDEX's dividend payout ratio (DPR) is 45.01%.

Wall Street Analyst Weigh In

Several analysts have weighed in on IEX shares. Mizuho set a $185.00 price objective on shares of IDEX in a research note on Friday, May 16th. Citigroup reduced their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada boosted their price target on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Stifel Nicolaus boosted their target price on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Robert W. Baird set a $215.00 price target on shares of IDEX in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.50.

Insider Buying and Selling

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer now owns 5,035 shares in the company, valued at $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

About IDEX

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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