Eagle Boston Investment Management Inc. acquired a new position in Flowserve (NYSE:FLS) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,791 shares of the industrial products company’s stock, valued at approximately $770,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Investment Managment Co. bought a new stake in shares of Flowserve in the fourth quarter worth $107,000. Assetmark Inc. grew its holdings in shares of Flowserve by 26,030.0% in the fourth quarter. Assetmark Inc. now owns 2,613 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 2,603 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of Flowserve in the fourth quarter worth $118,000. Tower Research Capital LLC TRC bought a new stake in shares of Flowserve in the fourth quarter worth $122,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Flowserve in the fourth quarter worth $264,000.
FLS has been the subject of several recent research reports. Zacks Investment Research raised Flowserve from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. Royal Bank of Canada raised Flowserve from an “underperform” rating to a “sector perform” rating in a report on Tuesday, February 20th. Stifel Nicolaus cut their price target on Flowserve from $47.00 to $44.00 and set a “hold” rating for the company in a report on Tuesday, February 20th. Finally, DA Davidson set a $42.00 price target on Flowserve and gave the company a “hold” rating in a report on Monday, May 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Flowserve currently has an average rating of “Hold” and an average price target of $43.46.
Shares of Flowserve stock opened at $44.57 on Friday. Flowserve has a 52 week low of $37.51 and a 52 week high of $50.43. The stock has a market capitalization of $5.83 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 1.60 and a beta of 1.46. The company has a current ratio of 2.29, a quick ratio of 1.62 and a debt-to-equity ratio of 0.88.
Flowserve (NYSE:FLS) last announced its quarterly earnings data on Thursday, May 10th. The industrial products company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. Flowserve had a positive return on equity of 10.41% and a negative net margin of 0.03%. The business had revenue of $919.90 million for the quarter, compared to the consensus estimate of $881.72 million. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. equities research analysts anticipate that Flowserve will post 1.64 EPS for the current fiscal year.
Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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