Eqis Capital Management Inc. grew its stake in shares of Flowserve Corporation (NYSE:FLS) by 7.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,543 shares of the industrial products company’s stock after acquiring an additional 3,867 shares during the period. Eqis Capital Management Inc.’s holdings in Flowserve Corporation were worth $2,280,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Sentry Investment Management LLC grew its position in shares of Flowserve Corporation by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock valued at $432,000 after acquiring an additional 89 shares during the period. Toronto Dominion Bank lifted its stake in shares of Flowserve Corporation by 25.3% during the 2nd quarter. Toronto Dominion Bank now owns 44,637 shares of the industrial products company’s stock valued at $2,071,000 after buying an additional 9,006 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Flowserve Corporation by 2.5% during the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after buying an additional 126 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Flowserve Corporation during the 2nd quarter valued at approximately $458,000. Finally, TVR Capital Management LP purchased a new stake in shares of Flowserve Corporation during the 2nd quarter valued at approximately $3,197,000.
Shares of Flowserve Corporation (NYSE FLS) traded down 0.31% on Thursday, reaching $44.48. 117,250 shares of the company were exchanged. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 55.60 and a beta of 1.47. Flowserve Corporation has a 52 week low of $37.51 and a 52 week high of $52.10. The company’s 50-day moving average is $42.10 and its 200-day moving average is $45.00.
Flowserve Corporation (NYSE:FLS) last issued its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The business had revenue of $877.00 million for the quarter, compared to the consensus estimate of $933.91 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. On average, equities analysts expect that Flowserve Corporation will post $1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 22nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, September 21st. Flowserve Corporation’s payout ratio is 98.70%.
A number of brokerages recently commented on FLS. BidaskClub upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Wolfe Research started coverage on shares of Flowserve Corporation in a research note on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 target price on the stock. Boenning Scattergood reiterated a “hold” rating on shares of Flowserve Corporation in a research note on Friday, July 28th. Cowen and Company reiterated a “buy” rating and issued a $55.00 target price on shares of Flowserve Corporation in a research note on Friday, July 28th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $51.00 target price (down from $54.00) on shares of Flowserve Corporation in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $47.55.
Flowserve Corporation Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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