The Manufacturers Life Insurance Company raised its position in Flowserve Corporation (NYSE:FLS) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,541 shares of the industrial products company’s stock after buying an additional 7,820 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Flowserve Corporation worth $7,221,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank raised its position 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 purchasing an additional 480 shares during the last quarter. Creative Planning grew its holdings 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 acquiring an additional 141 shares during the period. Federated Investors Inc. PA grew its holdings 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 acquiring an additional 46 shares during the period. Evercore Wealth Management LLC grew its holdings in shares of Flowserve Corporation by 41.2% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,593 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 756 shares during the period. Finally, Sciencast Management LP purchased a new position in shares of Flowserve Corporation during the 2nd quarter worth approximately $201,000.
Shares of Flowserve Corporation (NYSE:FLS) traded up $0.13 during trading on Friday, hitting $39.13. The stock had a trading volume of 1,200,500 shares, compared to its average volume of 1,414,422. The stock has a market capitalization of $5,094.77, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 3.15 and a beta of 1.55. Flowserve Corporation has a 52-week low of $37.51 and a 52-week high of $52.10. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.85.
Flowserve Corporation (NYSE:FLS) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $883.38 million during the quarter, compared to analyst estimates of $871.20 million. Flowserve Corporation had a return on equity of 12.09% and a net margin of 4.58%. The firm’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. sell-side analysts forecast that Flowserve Corporation will post 1.38 earnings per share for the current fiscal year.
Several analysts recently weighed in on the company. Jefferies Group LLC restated a “buy” rating and issued a $50.00 price target on shares of Flowserve Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. BidaskClub downgraded Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Cowen and Company reiterated a “buy” rating and set a $55.00 target price on shares of Flowserve Corporation in a research note on Friday, July 28th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Flowserve Corporation in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.27.
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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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