Principal Financial Group Inc. boosted its position in SPX Flow Inc. (NYSE:FLOW) by 24.1% during the second quarter, Holdings Channel reports. The institutional investor owned 366,659 shares of the company’s stock after buying an additional 71,296 shares during the period. Principal Financial Group Inc. owned 0.88% of SPX Flow worth $9,559,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of SPX Flow by 48.3% in the second quarter. Prudential Financial Inc. now owns 1,078,601 shares of the company’s stock worth $28,119,000 after buying an additional 351,173 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SPX Flow by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 545,638 shares of the company’s stock worth $14,223,000 after buying an additional 201,034 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of SPX Flow during the second quarter worth $4,374,000. Alpine Investment Management LLC increased its position in shares of SPX Flow by 6.0% in the second quarter. Alpine Investment Management LLC now owns 2,625,177 shares of the company’s stock worth $68,438,000 after buying an additional 148,636 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of SPX Flow by 60.6% in the second quarter. JPMorgan Chase & Co. now owns 362,940 shares of the company’s stock worth $9,462,000 after buying an additional 136,938 shares in the last quarter. 83.39% of the stock is currently owned by institutional investors.
Shares of SPX Flow Inc. (NYSE:FLOW) opened at 26.94 on Monday. The firm’s market cap is $1.13 billion. SPX Flow Inc. has a 12 month low of $14.85 and a 12 month high of $38.40. The firm has a 50 day moving average price of $29.06 and a 200-day moving average price of $28.15.
SPX Flow (NYSE:FLOW) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. SPX Flow had a negative net margin of 16.41% and a positive return on equity of 8.26%. The business earned $528.80 million during the quarter, compared to analysts’ expectations of $64.15 million. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s quarterly revenue was down 14.0% on a year-over-year basis. On average, analysts predict that SPX Flow Inc. will post $0.15 EPS for the current fiscal year.
Separately, Zacks Investment Research raised SPX Flow from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. SPX Flow has an average rating of “Hold” and an average 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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