State Board of Administration of Florida Retirement System decreased its position in SPX Flow Inc. (NYSE:FLOW) by 58.9% during the second quarter, Holdings Channel reports. The firm owned 16,270 shares of the company’s stock after selling 23,359 shares during the period. State Board of Administration of Florida Retirement System’s holdings in SPX Flow were worth $424,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Synovus Financial Corp boosted its stake in shares of SPX Flow by 0.7% in the second quarter. Synovus Financial Corp now owns 10,713 shares of the company’s stock worth $281,000 after buying an additional 70 shares during the period. Louisiana State Employees Retirement System boosted its position in SPX Flow by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company’s stock worth $482,000 after buying an additional 100 shares during the last quarter. Thompson Investment Management Inc. boosted its position in SPX Flow by 3.2% in the second quarter. Thompson Investment Management Inc. now owns 15,950 shares of the company’s stock worth $416,000 after buying an additional 500 shares during the last quarter. Pacad Investment Ltd. boosted its position in SPX Flow by 39.7% in the first quarter. Pacad Investment Ltd. now owns 11,599 shares of the company’s stock worth $291,000 after buying an additional 3,299 shares during the last quarter. Finally, Swiss National Bank boosted its position in SPX Flow by 12.9% in the second quarter. Swiss National Bank now owns 66,718 shares of the company’s stock worth $1,739,000 after buying an additional 7,600 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.
Shares of SPX Flow Inc. (NYSE:FLOW) traded down 0.04% during mid-day trading on Monday, hitting $28.16. The stock had a trading volume of 105,467 shares. The firm’s 50 day moving average price is $29.31 and its 200 day moving average price is $28.11. SPX Flow Inc. has a 1-year low of $14.85 and a 1-year high of $39.95. The company’s market cap is $1.18 billion.
SPX Flow (NYSE:FLOW) last announced its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The business earned $528.80 million during the quarter, compared to analyst estimates of $64.15 million. SPX Flow had a positive return on equity of 8.26% and a negative net margin of 16.41%. SPX Flow’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. Analysts predict that SPX Flow Inc. will post $0.15 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised SPX Flow from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. SPX Flow has an average rating of “Hold” and a consensus price target of $30.00.
SPX Flow Company Profile
SPX FLOW, Inc is a global supplier of engineered solutions. The Company engineers, designs, manufactures and markets products and solutions used to process, blend, filter, dry, meter and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems and components, as well as aftermarket components and support services.
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