Wells Fargo & Company MN boosted its position in Spx Flow (NYSE:FLOW) by 95.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,307 shares of the industrial products company’s stock after buying an additional 37,284 shares during the quarter. Wells Fargo & Company MN owned 0.18% of Spx Flow worth $3,628,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc acquired a new position in Spx Flow in the 4th quarter worth $254,000. Teacher Retirement System of Texas acquired a new stake in shares of Spx Flow in the 4th quarter valued at about $673,000. Louisiana State Employees Retirement System raised its stake in shares of Spx Flow by 6.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the industrial products company’s stock valued at $865,000 after purchasing an additional 1,100 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in shares of Spx Flow in the 4th quarter valued at about $1,190,000. Finally, Stifel Financial Corp raised its stake in shares of Spx Flow by 69.5% in the 3rd quarter. Stifel Financial Corp now owns 35,770 shares of the industrial products company’s stock valued at $1,379,000 after purchasing an additional 14,662 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.
A number of equities research analysts have recently issued reports on FLOW shares. Stifel Nicolaus restated a “buy” rating and issued a $62.00 target price (up previously from $55.00) on shares of Spx Flow in a research note on Tuesday, January 16th. UBS lowered shares of Spx Flow from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Spx Flow from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, January 23rd. Royal Bank of Canada restated a “hold” rating and issued a $50.00 target price on shares of Spx Flow in a research note on Wednesday, February 7th. Finally, Robert W. Baird upped their target price on shares of Spx Flow from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.00.
In related news, VP Jaime Manson Easley sold 4,665 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $48.78, for a total transaction of $227,558.70. Following the sale, the vice president now owns 10,184 shares in the company, valued at $496,775.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.
Shares of Spx Flow stock opened at $47.60 on Friday. The stock has a market capitalization of $2,100.42, a PE ratio of 39.23, a P/E/G ratio of 0.50 and a beta of 1.93. Spx Flow has a 1 year low of $31.10 and a 1 year high of $54.92. The company has a current ratio of 1.55, a quick ratio of 1.11 and a debt-to-equity ratio of 0.89.
Spx Flow (NYSE:FLOW) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $529.20 million for the quarter, compared to analyst estimates of $515.37 million. Spx Flow had a net margin of 2.38% and a return on equity of 6.13%. Spx Flow’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. sell-side analysts forecast that Spx Flow will post 2.47 earnings per share for the current year.
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Spx Flow Company 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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