Shares of Flowserve Corp. (NYSE:FLS) have received a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the firm. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is €63.96 ($70.29).
FLS has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Flowserve Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Oppenheimer Holdings Inc. restated a “” rating on shares of Flowserve Corp. in a research note on Thursday, September 8th. Northcoast Research restated a “neutral” rating on shares of Flowserve Corp. in a research note on Tuesday, August 16th. Stifel Nicolaus restated a “buy” rating and issued a $54.00 price objective on shares of Flowserve Corp. in a research note on Tuesday, August 2nd. Finally, BMO Capital Markets reduced their price objective on shares of Flowserve Corp. from $44.00 to $42.00 and set a “market perform” rating for the company in a research note on Monday, August 1st.
In other news, Director William C. Rusnack sold 2,169 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of €46.72 ($51.34), for a total value of €101,335.68 ($111,357.89). Following the sale, the director now owns 2,783 shares of the company’s stock, valued at approximately €130,021.76 ($142,881.05). The transaction 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 company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of €45.49 ($49.99), for a total transaction of €1,592,150.00 ($1,749,615.38). Following the completion of the sale, the chief operating officer now directly owns 99,487 shares in the company, valued at approximately €4,525,663.63 ($4,973,256.74). The disclosure for this sale can be found here. 0.95% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the company. Creative Planning raised its stake in shares of Flowserve Corp. by 1.3% in the third quarter. Creative Planning now owns 2,767 shares of the company’s stock worth $133,000 after buying an additional 35 shares in the last quarter. Monarch Capital Management Inc. raised its stake in shares of Flowserve Corp. by 0.3% in the third quarter. Monarch Capital Management Inc. now owns 69,360 shares of the company’s stock worth $3,346,000 after buying an additional 180 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Flowserve Corp. by 2.1% in the third quarter. BNP Paribas Arbitrage SA now owns 36,232 shares of the company’s stock worth $1,748,000 after buying an additional 747 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of Flowserve Corp. by 5.5% in the third quarter. Eqis Capital Management Inc. now owns 30,784 shares of the company’s stock worth $1,485,000 after buying an additional 1,600 shares in the last quarter. Finally, Cullinan Associates Inc. raised its stake in shares of Flowserve Corp. by 4.4% in the third quarter. Cullinan Associates Inc. now owns 21,250 shares of the company’s stock worth $1,025,000 after buying an additional 900 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Flowserve Corp. (NYSE:FLS) traded up 0.16% on Monday, hitting $43.46. 470,139 shares of the stock traded hands. The stock has a 50-day moving average of $47.05 and a 200-day moving average of $47.01. Flowserve Corp. has a 12-month low of $33.86 and a 12-month high of $52.50. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 21.54 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 earnings per share 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 firm earned $1.03 billion during the quarter, compared to analyst estimates of $1,000 million. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Flowserve Corp.’s quarterly revenue was down 11.7% compared to the same quarter last year. Analysts forecast that Flowserve Corp. will post $2.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, September 28th. Flowserve Corp.’s payout ratio is 37.81%.
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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