Legal & General Group Plc raised its position in SPX Flow Inc (NYSE:FLOW) by 6.8% in the third quarter, Holdings Channel reports. The fund owned 123,252 shares of the industrial products company’s stock after buying an additional 7,887 shares during the period. Legal & General Group Plc’s holdings in SPX Flow were worth $6,404,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Brown Advisory Inc. purchased a new position in SPX Flow in the third quarter worth approximately $217,000. Russell Investments Group Ltd. lifted its stake in SPX Flow by 205.2% in the second quarter. Russell Investments Group Ltd. now owns 4,300 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 2,891 shares during the last quarter. BlueMountain Capital Management LLC lifted its stake in SPX Flow by 88.1% in the third quarter. BlueMountain Capital Management LLC now owns 8,034 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 3,762 shares during the last quarter. Victory Capital Management Inc. purchased a new position in SPX Flow in the third quarter worth approximately $428,000. Finally, Alpha Windward LLC purchased a new position in SPX Flow in the third quarter worth approximately $583,000. Institutional investors own 87.46% of the company’s stock.
FLOW stock opened at $31.83 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.12 and a current ratio of 1.62. SPX Flow Inc has a twelve month low of $27.23 and a twelve month high of $54.92. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 0.29 and a beta of 2.18.
SPX Flow (NYSE:FLOW) last released its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. SPX Flow had a net margin of 4.89% and a return on equity of 9.59%. The company had revenue of $538.30 million for the quarter, compared to analysts’ expectations of $543.38 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts predict that SPX Flow Inc will post 2.28 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of SPX Flow from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 10th. ValuEngine cut shares of SPX Flow from a “hold” rating to a “sell” rating in a report on Wednesday, December 5th. Barclays cut their price objective on shares of SPX Flow from $46.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, November 1st. Buckingham Research cut their price objective on shares of SPX Flow from $60.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Finally, Seaport Global Securities set a $45.00 price objective on shares of SPX Flow and gave the stock a “buy” rating in a report on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.63.
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SPX Flow Profile
SPX FLOW, Inc provides various engineered solutions worldwide. 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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