Traders Sell Shares of Flowserve Corp. (FLS) on Strength (FLS)
Traders sold shares of Flowserve Corp. (NYSE:FLS) on strength during trading hours on Thursday. $17.83 million flowed into the stock on the tick-up and $62.58 million flowed out of the stock on the tick-down, for a money net flow of $44.75 million out of the stock. Of all equities tracked, Flowserve Corp. had the 0th highest net out-flow for the day. Flowserve Corp. traded up $0.89 for the day and closed at $48.60
A number of research analysts have recently issued reports on FLS shares. KeyCorp started coverage on Flowserve Corp. in a report on Tuesday, May 10th. They issued a “sector weight” rating on the stock. Nomura Holdings Inc. downgraded Flowserve Corp. from a “neutral” rating to a “reduce” rating and set a $38.00 price target on the stock. in a report on Monday, April 4th. Vetr downgraded Flowserve Corp. from a “strong-buy” rating to a “buy” rating and set a $49.53 price target on the stock. in a report on Wednesday, April 13th. BMO Capital Markets started coverage on Flowserve Corp. in a report on Tuesday, April 5th. They issued a “market perform” rating and a $44.00 price target on the stock. Finally, Susquehanna lifted their price target on Flowserve Corp. from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Wednesday, April 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of €62.18 ($68.33).
The company has a market capitalization of $6.33 billion and a price-to-earnings ratio of 23.12. The stock’s 50-day moving average is $48.12 and its 200 day moving average is $44.23.
Flowserve Corp. (NYSE:FLS) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.04. The firm earned $947.25 million during the quarter, compared to analyst estimates of $870.60 million. During the same quarter in the prior year, the firm posted $0.58 EPS. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts expect that Flowserve Corp. will post $2.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Friday, June 24th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, June 22nd.
Several hedge funds recently made changes to their positions in the stock. Gulf International Bank UK Ltd boosted its stake in shares of Flowserve Corp. by 1.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 39,966 shares of the company’s stock valued at $1,682,000 after buying an additional 400 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Flowserve Corp. by 0.9% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 206,521 shares of the company’s stock valued at $8,790,000 after buying an additional 1,841 shares during the last quarter. Nuance Investments LLC boosted its stake in shares of Flowserve Corp. by 5.5% in the fourth quarter. Nuance Investments LLC now owns 54,408 shares of the company’s stock valued at $2,289,000 after buying an additional 2,841 shares during the last quarter. GAM Holding AG boosted its stake in shares of Flowserve Corp. by 16.6% in the fourth quarter. GAM Holding AG now owns 254,915 shares of the company’s stock valued at $10,725,000 after buying an additional 36,316 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Flowserve Corp. by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 10,897,236 shares of the company’s stock valued at $458,557,000 after buying an additional 56,215 shares during the last quarter.
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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