Beck Mack & Oliver LLC continued to hold its stake in shares of Flowserve Corp. (NYSE:FLS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,362 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Flowserve Corp. were worth $604,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the company. American Century Companies Inc. increased its position in Flowserve Corp. by 6.6% in the second quarter. American Century Companies Inc. now owns 1,391,770 shares of the company’s stock valued at $62,866,000 after buying an additional 86,140 shares in the last quarter. Bank of Montreal Can bought a new position in Flowserve Corp. during the second quarter valued at approximately $3,149,000. Lafitte Capital Management LP increased its position in Flowserve Corp. by 31.9% in the first quarter. Lafitte Capital Management LP now owns 206,918 shares of the company’s stock valued at $9,189,000 after buying an additional 50,000 shares in the last quarter. Geode Capital Management LLC increased its position in Flowserve Corp. by 4.4% in the first quarter. Geode Capital Management LLC now owns 1,106,529 shares of the company’s stock valued at $49,044,000 after buying an additional 46,934 shares in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA bought a new position in Flowserve Corp. during the first quarter valued at approximately $1,767,000. 98.45% of the stock is owned by hedge funds and other institutional investors.
Shares of Flowserve Corp. (NYSE:FLS) remained flat at $43.39 during mid-day trading on Monday. The company had a trading volume of 520,288 shares. The stock has a market cap of $5.66 billion, a PE ratio of 21.50 and a beta of 1.65. Flowserve Corp. has a 1-year low of $33.86 and a 1-year high of $52.50. The stock’s 50-day moving average price is $47.05 and its 200 day moving average price is $47.01.
Flowserve Corp. (NYSE:FLS) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.03. Flowserve Corp. had a net margin of 6.10% and a return on equity of 20.30%. The business earned $1.03 billion during the quarter, compared to the consensus estimate of $1,000 million. During the same period in the previous year, the business posted $0.80 EPS. The firm’s revenue was down 11.7% on a year-over-year basis. Equities research analysts anticipate that Flowserve Corp. will post $2.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.75%. The ex-dividend date was Wednesday, September 28th. Flowserve Corp.’s payout ratio is currently 37.81%.
Several research analysts have recently commented on the company. Northcoast Research reiterated a “neutral” rating on shares of Flowserve Corp. in a report on Tuesday, August 16th. BMO Capital Markets decreased their price objective on Flowserve Corp. from $44.00 to $42.00 and set a “market perform” rating on the stock in a report on Monday, August 1st. Oppenheimer Holdings Inc. reiterated a “” rating on shares of Flowserve Corp. in a report on Thursday, September 8th. Zacks Investment Research downgraded Flowserve Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $54.00 price objective on shares of Flowserve Corp. in a report on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Flowserve Corp. has an average rating of “Hold” and a consensus target price of €61.97 ($68.85).
In other Flowserve Corp. news, Director William C. Rusnack sold 2,169 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of €46.72 ($51.91), for a total value of €101,335.68 ($112,595.20). Following the completion of the sale, the director now owns 2,783 shares of the company’s stock, valued at €130,021.76 ($144,468.62). The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas L. Pajonas sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of €45.49 ($50.54), for a total transaction of €1,592,150.00 ($1,769,055.56). Following the completion of the sale, the chief operating officer now directly owns 99,487 shares of the company’s stock, valued at approximately €4,525,663.63 ($5,028,515.14). The disclosure for this sale can be found here. 0.95% of the stock is currently owned by company insiders.
About Flowserve Corp.
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs, manufactures, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment.
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