The Oregon Public Employees Retirement Fund reduced its position in Flowserve Company (NYSE:FLS-GET Rating) stock by 1.8% in the first quarter, according to its recent 13F filing with the SEC. The fund held 41,805 shares of Industrial Products Company after selling 749 shares during the quarter. The Oregon Public Employees Retirement Fund holdings in Flowserve at the end of the last reporting period were $1,501,000.
Several other hedge funds and other institutional investors have recently revised their holdings in the company. Trust Company of Vermont acquired a new position in Flowserve for approximately $28,000 during the fourth quarter. Covestor Ltd purchased a new position in Flowserve stock valued at $47,000 during the fourth quarter. Ellevest Inc. increased its stake in Flowserve by 284.3% in the fourth quarter. After purchasing an additional 1,336 shares in the prior quarter, Ellevest Inc. now owns 1,806 shares of Industrial Products Company for $55,000. The National Bank of Canada FI acquired a new holding in Flowserve stock for approximately $67,000 during the fourth quarter. Finally, Longfellow Investment Management Company LLC acquired a new $100,000 stake in Flowserve during the fourth quarter. Hedge funds and other institutional investors own 97.65% of the company’s shares.
NYSE FLS shares opened at $28.93 on Monday. The company has a gearing ratio of 0.70, a current ratio of 2.07 and a quick ratio of 1.44. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 1.18, and a beta of 1.54. The company’s 50-day simple moving average is $30.01 and its 200-day simple moving average is $32.03. The Flowserve company’s 12-month low is $27.14 and its 12-month high is $43.63.
Flowserve (NYSE:FLS – GET Rating) last reported its quarterly results on Monday, May 2nd. The industrial products company reported earnings per share (EPS) of $0.07 for the quarter, missing analyst consensus estimates of $0.21 ($0.14). Flowserve had a return on equity of 8.57% and a net margin of 2.74%. The company’s revenue for the quarter was $821.06 million compared to analysts’ expectations of $859.39 million. In the same period last year, the company generated earnings per share of $0.28. Analysts expect Flowserve Company to post earnings per share of 1.51 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. A dividend of $0.20 per share was paid to shareholders of record on Friday, June 24th. The ex-dividend date of this dividend was Thursday June 23rd. That equates to a dividend of $0.80 and a yield of 2.77% year over year. Flowserve’s dividend payout ratio currently stands at 108.11%.
The FLS has been the subject of many analyst reports. The Royal Bank of Canada lowered its target price on Flowserve shares to $33.00 from $38.00 in a research report on Wednesday, May 4. Citigroup lowered its target price on Flowserve shares to $38.00 from $42.00 in a research report on Wednesday, May 4. StockNews.com began reporting on Flowserve in a research note on Thursday, March 31st. He assigned a “hold” rating to the stock. In a research report on Wednesday, May 4, Stifel Nichols lowered its price target on Flowserve shares to $35.00 from $42.00. Finally, Morgan Stanley raised its price target on Flowserve shares to $40.00 from $32.00 and gave the stock a “break even weight” rating in a research report on Thursday, April 7. Three research analysts have rated the stock as “hold” and four as “buy”. Rating for the company’s stock. According to Marketbeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.86.
About Flowserve (received rating)
Flowserve Corporation designs, develops, manufactures, sells and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia and internationally. It operates through two business divisions, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment provides customized and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades and related aftermarket services, including installation and commissioning services, sealing system replacement parts, repairs, advanced diagnostics, re-evaluation and are included. Manufactures gas-lubricated mechanical seals for use in upgrade solutions, retrofit programs, and machining and asset management solutions, as well as high-speed compressors for gas pipelines.
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