Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp reduced its stake in shares of SPX Flow Inc. (NYSE:FLOW) by 11.0% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 125,000 shares of the company’s stock after selling 15,500 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.30% of SPX Flow worth $3,865,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of 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 in the last quarter. BlackRock Advisors LLC boosted its stake in shares of SPX Flow by 0.4% in the second quarter. BlackRock Advisors LLC now owns 19,519 shares of the company’s stock worth $509,000 after buying an additional 75 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of 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. PineBridge Investments L.P. boosted its stake in shares of SPX Flow by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,287 shares of the company’s stock worth $138,000 after buying an additional 200 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of SPX Flow by 0.9% in the second quarter. Arizona State Retirement System now owns 21,600 shares of the company’s stock worth $563,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.
SPX Flow Inc. (NYSE:FLOW) traded down 1.05% during mid-day trading on Friday, hitting $31.14. 115,645 shares of the stock traded hands. SPX Flow Inc. has a 1-year low of $14.85 and a 1-year high of $34.16. The stock has a 50-day moving average of $27.38 and a 200 day moving average of $28.15. The firm’s market cap is $1.30 billion.
SPX Flow (NYSE:FLOW) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $466.80 million for the quarter, compared to analyst estimates of $64.15 million. SPX Flow had a negative net margin of 17.39% and a positive return on equity of 6.09%. The business’s quarterly revenue was down 20.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. On average, equities analysts expect that SPX Flow Inc. will post $0.15 EPS for the current year.
FLOW has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $33.00 price target (down previously from $39.00) on shares of SPX Flow in a research note on Friday, October 21st. Zacks Investment Research cut shares of SPX Flow from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th. Finally, Credit Suisse Group AG cut shares of SPX Flow from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $39.00 to $23.00 in a research note on Monday, November 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $27.63.
In other news, Director Robert F. Hull, Jr. acquired 5,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were bought at an average price of $28.45 per share, for a total transaction of $142,250.00. Following the completion of the purchase, the director now directly owns 16,570 shares of the company’s stock, valued at approximately $471,416.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.
About SPX Flow
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.