Cullinan Associates Inc. Has $1.02 Million Stake in Flowserve Corporation (NYSE:FLS)
Cullinan Associates Inc. boosted its position in shares of Flowserve Corporation (NYSE:FLS) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,050 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Cullinan Associates Inc.’s holdings in Flowserve Corporation were worth $1,024,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. 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 period. AQR Capital Management LLC increased its stake in Flowserve Corporation by 66.4% in the fourth quarter. AQR Capital Management LLC now owns 30,005 shares of the industrial products company’s stock worth $1,442,000 after buying an additional 11,968 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Flowserve Corporation by 183.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,149 shares of the industrial products company’s stock worth $248,000 after buying an additional 3,331 shares during the period. Norges Bank acquired a new stake in Flowserve Corporation during the fourth quarter worth approximately $53,541,000. Finally, Elkhorn Investments LLC acquired a new stake in Flowserve Corporation during the fourth quarter worth approximately $702,000.
Shares of Flowserve Corporation (NYSE FLS) opened at 41.19 on Monday. The stock has a market cap of $5.37 billion, a PE ratio of 45.77 and a beta of 1.46. The firm has a 50-day moving average price of $45.84 and a 200 day moving average price of $47.88. Flowserve Corporation has a 12-month low of $39.13 and a 12-month high of $52.10.
Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.21. The business had revenue of $877 million for the quarter, compared to analyst estimates of $933.91 million. Flowserve Corporation had a return on equity of 13.20% and a net margin of 2.68%. Flowserve Corporation’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Equities research analysts predict that Flowserve Corporation will post $1.52 EPS for the current fiscal year.
A number of equities research analysts have commented on FLS shares. Royal Bank Of Canada reissued a “sell” rating and issued a $42.00 target price on shares of Flowserve Corporation in a report on Tuesday, April 11th. Cowen and Company raised Flowserve Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $41.00 to $55.00 in a report on Wednesday, April 19th. Zacks Investment Research raised Flowserve Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, April 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price target (up previously from $53.00) on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets lifted their price target on Flowserve Corporation from $53.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Flowserve Corporation presently has an average rating of “Hold” and a consensus target price of $49.10.
About Flowserve Corporation
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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