Prudential Financial Inc. Has $28,119,000 Stake in SPX Flow Inc. (FLOW)
Prudential Financial Inc. increased its position in SPX Flow Inc. (NYSE:FLOW) by 48.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,078,601 shares of the company’s stock after buying an additional 351,173 shares during the period. Prudential Financial Inc. owned about 2.58% of SPX Flow worth $28,119,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of SPX Flow by 27.1% in the second quarter. Teacher Retirement System of Texas now owns 5,805 shares of the company’s stock worth $151,000 after buying an additional 1,238 shares during the period. Financial Architects Inc raised its stake in shares of SPX Flow by 3,795.9% in the second quarter. Financial Architects Inc now owns 9,545 shares of the company’s stock worth $249,000 after buying an additional 9,300 shares during the period. Synovus Financial Corp raised 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 during the period. Pacad Investment Ltd. raised its stake in shares of SPX Flow by 39.7% in the first quarter. Pacad Investment Ltd. now owns 11,599 shares of the company’s stock worth $291,000 after buying an additional 3,299 shares during the period. Finally, Strs Ohio purchased a new stake in shares of SPX Flow during the second quarter worth approximately $307,000. 83.41% of the stock is owned by institutional investors and hedge funds.
SPX Flow Inc. (NYSE:FLOW) traded up 3.96% during mid-day trading on Thursday, reaching $30.71. The company had a trading volume of 53,459 shares. The company’s market capitalization is $1.28 billion. The stock has a 50 day moving average price of $28.07 and a 200 day moving average price of $27.57. SPX Flow Inc. has a one year low of $14.85 and a one year high of $42.06.
SPX Flow (NYSE:FLOW) last issued its earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The company earned $528.80 million during the quarter, compared to the consensus estimate of $64.15 million. SPX Flow had a positive return on equity of 8.26% and a negative net margin of 16.41%. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period last year, the business posted $1.15 EPS. On average, equities analysts expect that SPX Flow Inc. will post $0.15 earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered SPX Flow from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. SPX Flow has an average rating of “Hold” and an average target price of $30.00.
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.
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