Ameriprise Financial Inc. lessened its stake in Flowserve Corp (NYSE:FLS) by 11.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,189 shares of the industrial products company’s stock after selling 8,177 shares during the period. Ameriprise Financial Inc. owned about 0.05% of Flowserve worth $2,827,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. lifted its position in shares of Flowserve by 2.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 643,703 shares of the industrial products company’s stock valued at $29,888,000 after buying an additional 18,219 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of Flowserve during the 2nd quarter valued at approximately $204,000. Federated Investors Inc. PA lifted its position in shares of Flowserve 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 in the last quarter. Andra AP fonden lifted its position in shares of Flowserve by 8.8% during the 2nd quarter. Andra AP fonden now owns 19,700 shares of the industrial products company’s stock valued at $915,000 after buying an additional 1,600 shares in the last quarter. Finally, Utah Retirement Systems lifted its position in shares of Flowserve by 0.8% during the 2nd quarter. Utah Retirement Systems now owns 23,854 shares of the industrial products company’s stock valued at $1,107,000 after buying an additional 200 shares in the last quarter.
A number of brokerages have recently issued reports on FLS. Boenning Scattergood reiterated a “hold” rating on shares of Flowserve in a research report on Thursday, November 2nd. Robert W. Baird reiterated a “hold” rating and set a $45.00 target price on shares of Flowserve in a research report on Friday, December 15th. BMO Capital Markets downgraded Flowserve from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $41.00 in a research note on Friday, November 3rd. Citigroup reissued a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Flowserve in a research note on Monday, October 9th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $36.00 price objective (down from $38.00) on shares of Flowserve in a research note on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $43.58.
Flowserve Corp (NYSE:FLS) opened at $43.47 on Friday. Flowserve Corp has a twelve month low of $37.51 and a twelve month high of $52.10. The company has a market capitalization of $5,550.00, a PE ratio of 35.34, a P/E/G ratio of 2.64 and a beta of 1.53. 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 (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Flowserve had a return on equity of 12.09% and a net margin of 4.58%. The company had revenue of $883.38 million during the quarter, compared to analysts’ expectations of $871.20 million. During the same period last year, the business posted $0.52 EPS. Flowserve’s revenue for the quarter was down 6.6% on a year-over-year basis. equities analysts anticipate that Flowserve Corp will post 1.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, January 4th. Flowserve’s dividend payout ratio (DPR) is presently 61.79%.
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Flowserve 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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