Cetera Investment Advisers purchased a new position in shares of SPX FLOW, Inc. (NYSE:FLOW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,183 shares of the industrial products company’s stock, valued at approximately $590,000.
Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in SPX FLOW by 1.4% in the 1st quarter. FMR LLC now owns 1,004,760 shares of the industrial products company’s stock worth $32,051,000 after purchasing an additional 13,672 shares during the period. First Trust Advisors LP raised its stake in shares of SPX FLOW by 307.0% during the 1st quarter. First Trust Advisors LP now owns 41,803 shares of the industrial products company’s stock worth $1,334,000 after buying an additional 31,532 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in shares of SPX FLOW by 56.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 438,370 shares of the industrial products company’s stock worth $13,984,000 after buying an additional 157,943 shares during the period. Sei Investments Co. lifted its position in shares of SPX FLOW by 20.5% during the 3rd quarter. Sei Investments Co. now owns 8,662 shares of the industrial products company’s stock valued at $349,000 after buying an additional 1,474 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in SPX FLOW in the 3rd quarter valued at $202,000. Institutional investors own 94.85% of the company’s stock.
FLOW has been the topic of several recent analyst reports. Morgan Stanley began coverage on shares of SPX FLOW in a report on Wednesday, March 31st. They set an “underweight” rating and a $65.00 price objective on the stock. Barclays lifted their price objective on SPX FLOW from $54.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada increased their target price on SPX FLOW from $62.00 to $72.00 and gave the company a “sector perform” rating in a report on Friday, March 12th. Vertical Research lowered SPX FLOW from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Finally, Zacks Investment Research downgraded SPX FLOW from a “buy” rating to a “hold” rating in a research note on Wednesday, February 17th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. SPX FLOW presently has a consensus rating of “Hold” and an average target price of $51.38.
SPX FLOW (NYSE:FLOW) last posted its earnings results on Wednesday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.19. SPX FLOW had a negative net margin of 12.43% and a positive return on equity of 5.91%. The firm had revenue of $396.10 million during the quarter, compared to the consensus estimate of $350.05 million. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that SPX FLOW, Inc. will post 1.12 EPS for the current year.
The company also recently announced a — dividend, which will be paid on Wednesday, April 14th. Investors of record on Wednesday, March 24th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, March 23rd. SPX FLOW’s payout ratio is 19.25%.
SPX FLOW Profile
SPX FLOW, Inc, together with its subsidiaries, provides various engineered solutions in the United States, China, Germany, Denmark, France, and internationally. It operates in two segments, Food and Beverage; and Industrial. The Food and Beverage segment offers homogenizers, pumps, valves, separators, and heat exchangers primarily under the APV, Gerstenberg Schroeder, Seital, and Waukesha Cherry-Burrell brands.
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