UBS Asset Management Americas Inc. Has $14,873,000 Stake in Flowserve Corp. (FLS)
UBS Asset Management Americas Inc. boosted its stake in Flowserve Corp. (NYSE:FLS) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 329,259 shares of the company’s stock after buying an additional 5,995 shares during the period. UBS Asset Management Americas Inc. owned 0.25% of Flowserve Corp. worth $14,873,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LLC purchased a new position in Flowserve Corp. during the first quarter valued at $124,000. Whittier Trust Co. increased its position in Flowserve Corp. by 194.6% in the second quarter. Whittier Trust Co. now owns 3,865 shares of the company’s stock valued at $175,000 after buying an additional 2,553 shares during the period. Strs Ohio increased its position 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 period. Marshwinds Advisory Co. purchased a new position in Flowserve Corp. during the second quarter valued at $203,000. Finally, Neuberger Berman Group LLC purchased a new position in Flowserve Corp. during the second quarter valued at $224,000. 98.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flowserve Corp. (NYSE:FLS) traded up 1.97% during mid-day trading on Thursday, hitting $48.05. 176,857 shares of the stock were exchanged. The firm has a 50-day moving average price of $47.78 and a 200 day moving average price of $46.86. Flowserve Corp. has a 12-month low of $33.86 and a 12-month high of $52.50. The company has a market capitalization of $6.26 billion, a PE ratio of 23.81 and a beta of 1.76.
Flowserve Corp. (NYSE:FLS) last posted its earnings results on Thursday, July 28th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by $0.03. Flowserve Corp. had a return on equity of 20.30% and a net margin of 6.10%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1,000 million. During the same period in the previous year, the company posted $0.80 earnings per share. Flowserve Corp.’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, equities research analysts expect that Flowserve Corp. will post $2.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.76 dividend on an annualized basis and a yield of 1.61%. Flowserve Corp.’s payout ratio is 37.81%.
Several research analysts have recently weighed in on the stock. Northcoast Research reissued a “neutral” rating on shares of Flowserve Corp. in a research report on Tuesday, August 16th. Stifel Nicolaus restated a “buy” rating and set a $54.00 price target on shares of Flowserve Corp. in a report on Tuesday, August 2nd. Oppenheimer Holdings Inc. restated a “” rating on shares of Flowserve Corp. in a report on Thursday, September 8th. Zacks Investment Research cut shares of Flowserve Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 5th. Finally, BMO Capital Markets decreased 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Flowserve Corp. presently has an average rating of “Hold” and a consensus target price 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 stock was sold at an average price of €45.49 ($50.54), for a total transaction of €1,592,150.00 ($1,769,055.56). Following the completion of the sale, the chief operating officer now directly owns 99,487 shares of the company’s stock, valued at approximately €4,525,663.63 ($5,028,515.14). The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William C. Rusnack sold 2,169 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of €46.72 ($51.91), for a total value of €101,335.68 ($112,595.20). Following the sale, the director now directly owns 2,783 shares of the company’s stock, valued at €130,021.76 ($144,468.62). The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
About Flowserve Corp.
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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