Whittier Trust Co. increased its position in shares of Flowserve Corp. (NYSE:FLS) by 194.6% during the second quarter, Holdings Channel reports. The firm owned 3,865 shares of the company’s stock after buying an additional 2,553 shares during the period. Whittier Trust Co.’s holdings in Flowserve Corp. were worth $175,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FLS. Aviva PLC increased its position in Flowserve Corp. by 0.6% in the first quarter. Aviva PLC now owns 67,416 shares of the company’s stock worth $2,994,000 after buying an additional 382 shares during the period. First National Bank of Mount Dora Trust Investment Services increased its position in Flowserve Corp. by 2.0% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 27,113 shares of the company’s stock worth $1,224,000 after buying an additional 541 shares during the period. BB&T Securities LLC increased its position in Flowserve Corp. by 1.6% in the first quarter. BB&T Securities LLC now owns 39,757 shares of the company’s stock worth $1,765,000 after buying an additional 620 shares during the period. Thompson Rubinstein Investment Management Inc. OR increased its position in Flowserve Corp. by 0.7% in the second quarter. Thompson Rubinstein Investment Management Inc. OR now owns 95,031 shares of the company’s stock worth $4,293,000 after buying an additional 673 shares during the period. Finally, Retirement Systems of Alabama increased its position in Flowserve Corp. by 1.1% in the second quarter. Retirement Systems of Alabama now owns 66,462 shares of the company’s stock worth $3,002,000 after buying an additional 706 shares during the period. Hedge funds and other institutional investors own 98.49% of the company’s stock.
Flowserve Corp. (NYSE:FLS) traded down 0.69% during trading on Friday, reaching $43.39. 1,837,612 shares of the company’s stock traded hands. Flowserve Corp. has a 12 month low of $33.86 and a 12 month high of $52.50. The firm’s 50 day moving average is $47.05 and its 200-day moving average is $47.01. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 21.50 and a beta of 1.65.
Flowserve Corp. (NYSE:FLS) last announced its earnings results on Thursday, July 28th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.03. Flowserve Corp. had a return on equity of 20.30% and a net margin of 6.10%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1,000 million. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was down 11.7% compared to the same quarter last year. Analysts expect that Flowserve Corp. will post $2.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued 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 dividend payout ratio (DPR) is presently 37.81%.
A number of research analysts have commented on the stock. Northcoast Research reiterated a “neutral” rating on shares of Flowserve Corp. in a research note on Tuesday, August 16th. BMO Capital Markets reduced their price objective on shares of Flowserve Corp. from $44.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday, August 1st. Oppenheimer Holdings Inc. restated a “” rating on shares of Flowserve Corp. in a research report on Thursday, September 8th. Zacks Investment Research downgraded shares of Flowserve Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $54.00 price target on shares of Flowserve Corp. in a research report on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of €61.97 ($68.85).
In other Flowserve Corp. news, COO Thomas L. Pajonas sold 35,000 shares of the business’s stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Mark A. Blinn sold 84,261 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 397,687 shares in the company, 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 company 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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