Bayesian Capital Management LP Takes Position in Flowserve Corporation (FLS)
Bayesian Capital Management LP purchased a new stake in Flowserve Corporation (NYSE:FLS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,500 shares of the industrial products company’s stock, valued at approximately $348,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Flowserve Corporation by 3,165.9% during the 1st quarter. BlackRock Inc. now owns 7,972,755 shares of the industrial products company’s stock valued at $386,041,000 after buying an additional 7,728,637 shares in the last quarter. Causeway Capital Management LLC bought a new position in Flowserve Corporation in the 1st quarter worth approximately $88,532,000. EdgePoint Investment Group Inc. boosted its holdings in Flowserve Corporation by 22.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,307,455 shares of the industrial products company’s stock worth $292,855,000 after buying an additional 1,146,084 shares during the period. Principal Financial Group Inc. boosted its holdings in Flowserve Corporation by 171.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,478,771 shares of the industrial products company’s stock worth $68,660,000 after buying an additional 934,354 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Flowserve Corporation by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 12,570,744 shares of the industrial products company’s stock worth $608,675,000 after buying an additional 449,389 shares during the period.
Shares of Flowserve Corporation (NYSE FLS) opened at 42.59 on Monday. The stock has a market capitalization of $5.56 billion, a P/E ratio of 53.24 and a beta of 1.47. The company has a 50-day moving average of $39.73 and a 200-day moving average of $45.48. Flowserve Corporation has a 52 week low of $37.51 and a 52 week high of $52.10.
Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The business had revenue of $877.00 million during the quarter, compared to analysts’ expectations of $933.91 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Flowserve Corporation’s revenue was down 14.6% on a year-over-year basis. On average, analysts anticipate that Flowserve Corporation will post $1.40 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, September 21st. Flowserve Corporation’s dividend payout ratio is currently 98.70%.
A number of brokerages have issued reports on FLS. BidaskClub raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $46.00 price target on shares of Flowserve Corporation in a report on Tuesday, June 6th. Wolfe Research began coverage on Flowserve Corporation in a report on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price target for the company. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Flowserve Corporation in a research report on Friday, July 28th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Flowserve Corporation in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $47.45.
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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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