State Board of Administration of Florida Retirement System Sells 23,359 Shares of SPX Flow Inc. (FLOW)
State Board of Administration of Florida Retirement System reduced its stake in SPX Flow Inc. (NYSE:FLOW) by 58.9% during the second quarter, Holdings Channel reports. The institutional investor owned 16,270 shares of the company’s stock after selling 23,359 shares during the period. State Board of Administration of Florida Retirement System’s holdings in SPX Flow were worth $424,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Alpine Investment Management LLC increased its stake in SPX Flow by 6.0% in the second quarter. Alpine Investment Management LLC now owns 2,625,177 shares of the company’s stock valued at $68,438,000 after buying an additional 148,636 shares in the last quarter. California Public Employees Retirement System increased its stake in SPX Flow by 5.8% in the second quarter. California Public Employees Retirement System now owns 178,205 shares of the company’s stock valued at $4,646,000 after buying an additional 9,700 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in SPX Flow during the second quarter valued at $4,374,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in SPX Flow by 806.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 140,500 shares of the company’s stock valued at $3,663,000 after buying an additional 125,000 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in SPX Flow during the second quarter valued at $2,235,000. 83.41% of the stock is owned by institutional investors and hedge funds.
Shares of SPX Flow Inc. (NYSE:FLOW) traded down 0.04% during trading on Monday, hitting $28.16. 105,467 shares of the company traded hands. The company has a 50 day moving average price of $29.31 and a 200 day moving average price of $28.11. SPX Flow Inc. has a 52 week low of $14.85 and a 52 week high of $39.95. The company’s market capitalization is $1.18 billion.
SPX Flow (NYSE:FLOW) last posted its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share 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 analysts’ expectations of $64.15 million. SPX Flow had a negative net margin of 16.41% and a positive return on equity of 8.26%. SPX Flow’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period last year, the company posted $1.15 earnings per share. On average, analysts expect that SPX Flow Inc. will post $0.15 earnings per share for the current year.
Separately, Zacks Investment Research raised shares of SPX Flow from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus 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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