Stephens Inc. AR Has $2.47 Million Holdings in Flowserve Corporation (FLS)
Stephens Inc. AR raised its stake in shares of Flowserve Corporation (NYSE:FLS) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,083 shares of the industrial products company’s stock after buying an additional 4,189 shares during the quarter. Stephens Inc. AR’s holdings in Flowserve Corporation were worth $2,465,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Huntington National Bank grew its holdings in Flowserve Corporation by 28.0% during the 2nd quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after buying an additional 480 shares during the last quarter. Creative Planning grew its holdings in Flowserve Corporation by 6.2% during the 2nd quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after buying an additional 141 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Flowserve Corporation during the 1st quarter valued at $116,000. Federated Investors Inc. PA grew its holdings in Flowserve Corporation by 1.8% during the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after buying an additional 46 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Flowserve Corporation during the 1st quarter valued at $151,000.
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Flowserve Corporation (NYSE:FLS) opened at 40.91 on Thursday. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 51.14 and a beta of 1.45. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The company has a 50-day moving average of $40.18 and a 200 day moving average of $45.69.
Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.21). The company had revenue of $877.00 million for the quarter, compared to the consensus estimate of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, analysts anticipate that Flowserve Corporation will post $1.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, September 21st. Flowserve Corporation’s dividend payout ratio (DPR) is presently 98.70%.
A number of equities research analysts have commented on FLS shares. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 target price on shares of Flowserve Corporation in a report on Sunday, September 3rd. BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Wolfe Research started coverage on Flowserve Corporation in a report on Tuesday, July 11th. They set an “underperform” rating and a $38.00 target price on the stock. Finally, Royal Bank Of Canada reiterated a “sell” rating and set a $46.00 target price on shares of Flowserve Corporation in a report on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $47.45.
About Flowserve Corporation
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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