Everence Capital Management Inc. acquired a new position in SPX FLOW, Inc. (NYSE:FLOW) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,180 shares of the industrial products company’s stock, valued at approximately $455,000.
A number of other institutional investors have also bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in shares of SPX FLOW during the fourth quarter valued at $29,000. Parkside Financial Bank & Trust lifted its stake in shares of SPX FLOW by 5,910.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,202 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,182 shares during the period. Veriti Management LLC acquired a new position in shares of SPX FLOW during the fourth quarter valued at $89,000. Great West Life Assurance Co. Can lifted its stake in shares of SPX FLOW by 146.1% during the third quarter. Great West Life Assurance Co. Can now owns 129,492 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 76,870 shares during the period. Finally, Truist Financial Corp acquired a new position in shares of SPX FLOW during the fourth quarter valued at $208,000. 94.85% of the stock is currently owned by institutional investors.
FLOW has been the topic of several analyst reports. Morgan Stanley initiated coverage on SPX FLOW in a research note on Wednesday, March 31st. They issued an “underweight” rating and a $65.00 target price on the stock. Zacks Investment Research lowered SPX FLOW from a “buy” rating to a “hold” rating in a research note on Wednesday, February 17th. Royal Bank of Canada increased their target price on SPX FLOW from $62.00 to $72.00 and gave the company a “sector perform” rating in a research note on Friday, March 12th. Vertical Research lowered SPX FLOW from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Finally, Barclays increased their target price on SPX FLOW from $54.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 6th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.38.
SPX FLOW (NYSE:FLOW) last issued its quarterly earnings results on Wednesday, February 10th. The industrial products company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.37 by $0.19. SPX FLOW had a positive return on equity of 5.91% and a negative net margin of 12.43%. The firm had revenue of $396.10 million during the quarter, compared to analysts’ expectations of $350.05 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that SPX FLOW, Inc. will post 1.12 earnings per share for the current fiscal year.
The firm also recently disclosed a — dividend, which will be paid on Wednesday, April 14th. Stockholders of record on Wednesday, March 24th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, March 23rd. SPX FLOW’s payout ratio is 19.25%.
SPX FLOW Profile
SPX FLOW, Inc, together with its subsidiaries, provides various engineered solutions in the United States, China, Germany, Denmark, France, and internationally. It operates in two segments, Food and Beverage; and Industrial. The Food and Beverage segment offers homogenizers, pumps, valves, separators, and heat exchangers primarily under the APV, Gerstenberg Schroeder, Seital, and Waukesha Cherry-Burrell brands.
Further Reading: What are the benefits of momentum investing?
Want to see what other hedge funds are holding FLOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPX FLOW, Inc. (NYSE:FLOW).
Receive News & Ratings for SPX FLOW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX FLOW and related companies with MarketBeat.com's FREE daily email newsletter.