First Citizens Bank & Trust Co. acquired a new stake in SPX Flow Inc. (NYSE:FLOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,923 shares of the company’s stock, valued at approximately $493,000.
Several other institutional investors have also recently modified their holdings of the company. ClariVest Asset Management LLC bought a new position in SPX Flow during the second quarter worth about $2,235,000. Nordea Investment Management AB bought a new position in SPX Flow during the second quarter worth about $2,221,000. Aperio Group LLC raised its position in SPX Flow by 84.6% in the first quarter. Aperio Group LLC now owns 71,822 shares of the company’s stock worth $1,801,000 after buying an additional 32,911 shares in the last quarter. Louisiana State Employees Retirement System raised 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 in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in SPX Flow by 126.1% in the second quarter. BNP Paribas Arbitrage SA now owns 15,543 shares of the company’s stock worth $405,000 after buying an additional 8,668 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.
Shares of SPX Flow Inc. (NYSE:FLOW) traded down 0.19% during midday trading on Friday, reaching $26.94. 207,501 shares of the company were exchanged. The company’s 50-day moving average price is $29.06 and its 200 day moving average price is $28.15. The stock’s market capitalization is $1.13 billion. SPX Flow Inc. has a 52-week low of $14.85 and a 52-week high of $38.40.
SPX Flow (NYSE:FLOW) last issued its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $528.80 million for the quarter, compared to analyst estimates of $64.15 million. SPX Flow had a negative net margin of 16.41% and a positive return on equity of 8.26%. The company’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 EPS. On average, equities analysts predict that SPX Flow Inc. will post $0.15 earnings per share for the current year.
Separately, Zacks Investment Research raised SPX Flow from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. SPX Flow has a consensus rating of “Hold” and a consensus target price of $28.50.
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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