South Dakota Investment Council grew its holdings in shares of Flowserve Corporation (NYSE:FLS) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,200 shares of the industrial products company’s stock after purchasing an additional 1,800 shares during the period. South Dakota Investment Council’s holdings in Flowserve Corporation were worth $2,331,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Huntington National Bank grew its position in shares of Flowserve Corporation by 28.0% during the 2nd quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 480 shares in the last quarter. Creative Planning grew its position in shares of Flowserve Corporation by 6.2% during the 2nd quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 141 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Flowserve Corporation during the 1st quarter worth approximately $116,000. Federated Investors Inc. PA grew its position in shares of 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 worth $118,000 after purchasing an additional 46 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Flowserve Corporation during the 1st quarter worth approximately $151,000.
A number of brokerages have issued reports on FLS. BidaskClub upgraded shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada restated a “sell” rating and set a $46.00 target price on shares of Flowserve Corporation in a research report on Tuesday, June 6th. Wolfe Research began coverage on shares of Flowserve Corporation in a research report on Tuesday, July 11th. They set an “underperform” rating and a $38.00 target price on the stock. Boenning Scattergood restated a “hold” rating on shares of Flowserve Corporation in a research report on Friday, July 28th. Finally, Cowen and Company restated a “buy” rating and set a $55.00 target price on shares of Flowserve Corporation in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.45.
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Shares of Flowserve Corporation (NYSE FLS) opened at 39.48 on Monday. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The stock’s 50 day moving average is $40.51 and its 200-day moving average is $45.83. The company has a market cap of $5.16 billion, a P/E ratio of 49.35 and a beta of 1.45.
Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.43 by $0.21. The firm had revenue of $877 million for the quarter, compared to analysts’ expectations of $933.91 million. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. Flowserve Corporation’s revenue was down 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Equities research analysts forecast that Flowserve Corporation will post $1.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, September 21st. This represents a $0.76 annualized dividend and a yield of 1.93%. Flowserve Corporation’s dividend payout ratio is currently 98.70%.
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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