QRG Capital Management Inc. Has $1.14 Million Holdings in IDEX Corporation $IEX

QRG Capital Management Inc. reduced its position in shares of IDEX Corporation (NYSE:IEX) by 39.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,003 shares of the industrial products company’s stock after selling 4,508 shares during the quarter. QRG Capital Management Inc.’s holdings in IDEX were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. ASR Vermogensbeheer N.V. lifted its stake in IDEX by 13.1% in the third quarter. ASR Vermogensbeheer N.V. now owns 159,934 shares of the industrial products company’s stock valued at $26,030,000 after buying an additional 18,544 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of IDEX by 5.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,207 shares of the industrial products company’s stock valued at $6,056,000 after acquiring an additional 1,789 shares during the last quarter. Robeco Schweiz AG raised its position in shares of IDEX by 14.2% in the 3rd quarter. Robeco Schweiz AG now owns 271,089 shares of the industrial products company’s stock valued at $44,122,000 after acquiring an additional 33,752 shares during the period. Quent Capital LLC bought a new position in IDEX during the 3rd quarter worth approximately $86,000. Finally, Nordea Investment Management AB grew its holdings in IDEX by 193.6% during the third quarter. Nordea Investment Management AB now owns 2,364,312 shares of the industrial products company’s stock valued at $382,049,000 after purchasing an additional 1,559,124 shares during the period. 97.96% of the stock is owned by institutional investors.

IDEX Stock Performance

NYSE:IEX opened at $193.35 on Wednesday. The stock’s 50-day simple moving average is $178.00 and its 200 day simple moving average is $171.41. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $226.04. The company has a quick ratio of 2.06, a current ratio of 2.93 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $14.47 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 1.98 and a beta of 1.00.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.10. IDEX had a return on equity of 15.20% and a net margin of 13.97%.The business had revenue of $878.70 million during the quarter, compared to analysts’ expectations of $861.44 million. During the same quarter in the prior year, the firm earned $1.90 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. IDEX has set its FY 2025 guidance at 7.860-7.91 EPS. On average, analysts anticipate that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s dividend payout ratio (DPR) is currently 44.94%.

Wall Street Analysts Forecast Growth

IEX has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of IDEX from $197.00 to $202.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Stifel Nicolaus decreased their target price on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Finally, Oppenheimer set a $210.00 target price on IDEX in a research report on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and a consensus price target of $199.14.

About IDEX

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.