Capital Fund Management S.A. acquired a new stake in Flowserve Corp. (NYSE:FLS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 12,200 shares of the company’s stock, valued at approximately $551,000.
Other hedge funds have also recently bought and sold shares of the company. Seven Eight Capital LLC purchased a new stake in Flowserve Corp. during the first quarter valued at $124,000. Strs Ohio raised its stake in Flowserve Corp. by 124.7% in the second quarter. Strs Ohio now owns 4,097 shares of the company’s stock valued at $185,000 after buying an additional 2,274 shares during the last quarter. Marshwinds Advisory Co. purchased a new stake in Flowserve Corp. during the second quarter valued at $203,000. Boys Arnold & Co. Inc. purchased a new stake in Flowserve Corp. during the second quarter valued at $414,000. Finally, John G Ullman & Associates Inc. purchased a new stake in Flowserve Corp. during the second quarter valued at $470,000. 98.49% of the stock is owned by institutional investors.
Shares of Flowserve Corp. (NYSE:FLS) traded down 0.96% during trading on Wednesday, hitting $44.57. 946,612 shares of the stock were exchanged. The firm’s 50 day moving average price is $47.48 and its 200-day moving average price is $47.05. Flowserve Corp. has a 52 week low of $33.86 and a 52 week high of $52.50. The stock has a market cap of $5.81 billion, a P/E ratio of 22.09 and a beta of 1.65.
Flowserve Corp. (NYSE:FLS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The company earned $1.03 billion during the quarter, compared to the consensus estimate of $1,000 million. Flowserve Corp. had a net margin of 6.10% and a return on equity of 20.30%. Flowserve Corp.’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 EPS. On average, analysts predict that Flowserve Corp. will post $2.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, September 28th. Flowserve Corp.’s payout ratio is 37.81%.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Flowserve Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 5th. BMO Capital Markets lowered their price target on shares of Flowserve Corp. from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, August 1st. Northcoast Research reissued a “neutral” rating on shares of Flowserve Corp. in a report on Tuesday, August 16th. Stifel Nicolaus reissued a “buy” rating and issued a $54.00 price target on shares of Flowserve Corp. in a report on Tuesday, August 2nd. Finally, Oppenheimer Holdings Inc. reissued a “” rating on shares of Flowserve Corp. in a report on Thursday, September 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Flowserve Corp. presently has a consensus rating of “Hold” and a consensus price target of €61.97 ($68.85).
In related news, COO Thomas L. Pajonas sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of €45.49 ($50.54), for a total value of €1,592,150.00 ($1,769,055.56). Following the completion of the transaction, the chief operating officer now owns 99,487 shares of the company’s stock, valued at approximately €4,525,663.63 ($5,028,515.14). The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark A. Blinn sold 84,261 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of €45.50 ($50.56), for a total transaction of €3,833,875.50 ($4,259,861.67). Following the completion of the transaction, the chief executive officer now directly owns 397,687 shares of the company’s stock, valued at approximately €18,094,758.50 ($20,105,287.22). The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.
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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