Northwest & Ethical Investments L.P. Acquires 19,606 Shares of IDEX Corporation $IEX

Key Points

• Northwest & Ethical Investments L.P. increased its holdings in IDEX Corporation by 20.4%, now owning 115,754 shares valued at approximately $20.95 million.
• Multiple institutional investors have also significantly raised their stakes in IDEX, with notable increases including MassMutual Private Wealth & Trust FSB which lifted its stake by 81.0%.
• IDEX reported a quarterly earnings per share (EPS) of $2.07, surpassing analysts' expectations, alongside a 7.2% increase in revenue year-over-year.

Northwest & Ethical Investments L.P. lifted its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,754 shares of the industrial products company's stock after purchasing an additional 19,606 shares during the period. Northwest & Ethical Investments L.P. owned about 0.15% of IDEX worth $20,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IEX. Horizon Investments LLC lifted its stake in IDEX by 5.2% in the first quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company's stock valued at $197,000 after buying an additional 54 shares during the period. Alps Advisors Inc. lifted its stake in IDEX by 1.0% in the first quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock valued at $1,084,000 after buying an additional 60 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in IDEX by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock valued at $1,031,000 after buying an additional 61 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in IDEX by 0.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock valued at $1,508,000 after buying an additional 61 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after buying an additional 64 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. DA Davidson set a $180.00 price target on IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Citigroup upped their target price on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Mizuho set a $185.00 target price on IDEX in a research report on Friday, May 16th. Royal Bank Of Canada lowered their target price on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Finally, Oppenheimer lowered their target price on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.71.

IDEX Stock Down 1.0%

NYSE IEX traded down $1.64 on Wednesday, reaching $164.26. The company had a trading volume of 705,101 shares, compared to its average volume of 675,965. The stock has a market capitalization of $12.37 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.73 and a beta of 1.04. The company's fifty day moving average is $174.89 and its 200 day moving average is $180.19. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $238.22. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46.

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, beating analysts' consensus estimates of $2.00 by $0.07. The business 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%.IDEX's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm 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. Sell-side analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, July 11th. IDEX's dividend payout ratio is 45.88%.

Insider Transactions at IDEX

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the transaction, the chief financial officer owned 5,035 shares in the company, valued at $910,781.15. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is 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.