USS Investment Management Ltd Boosts Position in IDEX Corporation $IEX

Key Points

• USS Investment Management Ltd significantly increased its holdings in IDEX Corporation by 25.7%, now owning 15,200 shares valued at $2.75 million.
• IDEX has received a consensus rating of "Moderate Buy" from analysts, with a target price averaging $201.71 per share.
• The company reported $2.07 EPS for the last quarter, exceeding estimates and showing a 7.2% year-over-year revenue increase.

USS Investment Management Ltd grew its position in IDEX Corporation (NYSE:IEX - Free Report) by 25.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,200 shares of the industrial products company's stock after purchasing an additional 3,104 shares during the quarter. USS Investment Management Ltd's holdings in IDEX were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of IDEX by 19.7% in the first 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 position in shares of IDEX by 11.5% in the first 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 position in shares of IDEX by 15.4% in the first 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. Amundi boosted its position in shares of IDEX by 23.4% in the first quarter. Amundi now owns 1,249,546 shares of the industrial products company's stock worth $220,849,000 after purchasing an additional 236,650 shares during the period. Finally, Fenimore Asset Management Inc boosted its position in shares of IDEX by 2.0% in the first quarter. Fenimore Asset Management Inc now owns 855,951 shares of the industrial products company's stock worth $154,901,000 after purchasing an additional 16,444 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup upped their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus dropped their target price on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. DA Davidson set a $180.00 target price on shares of IDEX and gave the stock a "neutral" rating in a research report on Monday, August 4th. Oppenheimer dropped their target price on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada decreased their price target on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.71.

IDEX Price Performance

IDEX stock traded down $3.83 during mid-day trading on Friday, reaching $160.66. 394,416 shares of the company's stock traded hands, compared to its average volume of 648,151. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $238.22. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.69 and a beta of 1.02. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $169.95 and a two-hundred day moving average of $175.76.

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

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. IDEX's dividend payout ratio is currently 45.88%.

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.