Advantus Capital Management Inc Buys 63 Shares of Flowserve Corporation (FLS)
Advantus Capital Management Inc increased its position in shares of Flowserve Corporation (NYSE:FLS) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,978 shares of the industrial products company’s stock after buying an additional 63 shares during the period. Advantus Capital Management Inc’s holdings in Flowserve Corporation were worth $628,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Flowserve Corporation during the first quarter worth $151,000. Mn Services Vermogensbeheer B.V. raised its position in Flowserve Corporation by 5.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,479 shares of the industrial products company’s stock worth $157,000 after buying an additional 174 shares during the last quarter. Macquarie Group Ltd. raised its position in Flowserve Corporation by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock worth $158,000 after buying an additional 100 shares during the last quarter. Federated Investors Inc. PA raised its position in Flowserve Corporation by 12.8% in the fourth quarter. Federated Investors Inc. PA now owns 3,398 shares of the industrial products company’s stock worth $163,000 after buying an additional 386 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Flowserve Corporation during the fourth quarter worth $203,000. Institutional investors and hedge funds own 98.67% of the company’s stock.
Shares of Flowserve Corporation (FLS) remained flat at $47.45 during trading on Friday. 1,277,805 shares of the stock traded hands. Flowserve Corporation has a 12-month low of $39.13 and a 12-month high of $52.10. The firm’s 50-day moving average is $48.73 and its 200-day moving average is $48.69. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 51.02 and a beta of 1.52.
Flowserve Corporation (NYSE:FLS) last issued its earnings results on Monday, May 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Flowserve Corporation had a net margin of 3.12% and a return on equity of 15.76%. The company had revenue of $863.63 million during the quarter, compared to analysts’ expectations of $817.56 million. During the same period last year, the company posted $0.39 earnings per share. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts expect that Flowserve Corporation will post $1.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 23rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.76 dividend on an annualized basis and a yield of 1.60%. Flowserve Corporation’s dividend payout ratio (DPR) is currently 81.72%.
A number of equities analysts have weighed in on the company. Royal Bank Of Canada reiterated a “sell” rating and set a $46.00 price objective on shares of Flowserve Corporation in a research note on Tuesday, June 6th. Cowen and Company upgraded Flowserve Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $41.00 to $55.00 in a research note on Wednesday, April 19th. Jefferies Group LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Flowserve Corporation in a research note on Tuesday, March 28th. BMO Capital Markets upgraded Flowserve Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $46.00 to $53.00 in a research note on Monday, March 27th. Finally, Robert W. Baird upgraded Flowserve Corporation from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Wednesday, March 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Flowserve Corporation presently has an average rating of “Hold” and an average price target of $57.86.
Flowserve Corporation Company Profile
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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