Brown Advisory Inc. boosted its stake in shares of Flowserve Corp. (NYSE:FLS) by 0.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 36,159 shares of the company’s stock after buying an additional 280 shares during the period. Brown Advisory Inc.’s holdings in Flowserve Corp. were worth $1,633,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of FLS. Prudential Financial Inc. boosted its stake in Flowserve Corp. by 11.8% in the second quarter. Prudential Financial Inc. now owns 180,179 shares of the company’s stock valued at $8,139,000 after buying an additional 19,020 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Flowserve Corp. by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 682,422 shares of the company’s stock valued at $30,822,000 after buying an additional 3,681 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Flowserve Corp. by 31.1% in the second quarter. Teacher Retirement System of Texas now owns 9,345 shares of the company’s stock valued at $422,000 after buying an additional 2,218 shares during the last quarter. Edge Asset Management Inc. boosted its stake in Flowserve Corp. by 94.5% in the second quarter. Edge Asset Management Inc. now owns 862,088 shares of the company’s stock valued at $38,940,000 after buying an additional 418,930 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Flowserve Corp. by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 12,021,967 shares of the company’s stock valued at $543,032,000 after buying an additional 30,583 shares during the last quarter. 98.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flowserve Corp. (NYSE:FLS) traded down 0.725% during midday trading on Monday, reaching $45.845. 282,909 shares of the company’s stock were exchanged. Flowserve Corp. has a one year low of $33.86 and a one year high of $52.50. The firm has a market cap of $5.98 billion, a PE ratio of 22.718 and a beta of 1.76. The stock’s 50-day moving average is $47.82 and its 200 day moving average is $46.87.
Flowserve Corp. (NYSE:FLS) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ 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 had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1,000 million. During the same quarter last year, the firm earned $0.80 EPS. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. Analysts anticipate that Flowserve Corp. will post $2.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, September 28th. Flowserve Corp.’s dividend payout ratio (DPR) is presently 37.81%.
Several research firms have weighed in on FLS. Oppenheimer Holdings Inc. reaffirmed a “” rating on shares of Flowserve Corp. in a research report on Thursday, September 8th. Zacks Investment Research cut Flowserve Corp. from a “hold” rating to a “sell” rating in a research report on Monday, September 5th. Northcoast Research reaffirmed a “neutral” rating on shares of Flowserve Corp. in a research report on Tuesday, August 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $54.00 price objective on shares of Flowserve Corp. in a research report on Tuesday, August 2nd. Finally, BMO Capital Markets cut their price objective on Flowserve Corp. from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Monday, August 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of €61.97 ($68.85).
In other news, COO Thomas L. Pajonas sold 35,000 shares of Flowserve Corp. 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 transaction, the chief operating officer now owns 99,487 shares in the company, valued at approximately €4,525,663.63 ($5,028,515.14). The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William C. Rusnack sold 2,169 shares of Flowserve Corp. 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 transaction, the director now owns 2,783 shares in the company, valued at approximately €130,021.76 ($144,468.62). The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Flowserve Corp. Company Profile
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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