Envestnet Portfolio Solutions Inc. Has $268,000 Stake in IDEX Corporation (NYSE:IEX)

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

Several other hedge funds also recently modified their holdings of the company. Banque de Luxembourg S.A. acquired a new stake in shares of IDEX in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its position in IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after purchasing an additional 64 shares during the last quarter. UMB Bank n.a. lifted its holdings in IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock worth $41,000 after buying an additional 87 shares in the last quarter. Quarry LP acquired a new stake in shares of IDEX in the 4th quarter valued at $49,000. Finally, Jones Financial Companies Lllp raised its position in shares of IDEX by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock worth $85,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Stock Down 0.5%

IDEX stock traded down $0.91 during mid-day trading on Thursday, reaching $181.25. The company's stock had a trading volume of 224,051 shares, compared to its average volume of 595,288. The business's 50 day simple moving average is $180.37 and its 200 day simple moving average is $189.93. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04.

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

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, July 11th. IDEX's payout ratio is presently 45.01%.

Insider Activity

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares of the company's stock, valued at $910,781.15. This represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

IDEX 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.