Northern Trust Corp Sells 36,287 Shares of Flowserve Corporation (FLS)
Northern Trust Corp trimmed its stake in shares of Flowserve Corporation (NYSE:FLS) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,405,961 shares of the industrial products company’s stock after selling 36,287 shares during the period. Northern Trust Corp owned about 1.08% of Flowserve Corporation worth $65,279,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Flowserve Corporation by 9.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 362,165 shares of the industrial products company’s stock worth $17,536,000 after acquiring an additional 31,186 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of Flowserve Corporation by 13.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 23,463 shares of the industrial products company’s stock valued at $1,136,000 after acquiring an additional 2,839 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Flowserve Corporation during the 1st quarter valued at about $151,000. Mason Street Advisors LLC grew its position in shares of Flowserve Corporation by 1.1% during the 1st quarter. Mason Street Advisors LLC now owns 18,037 shares of the industrial products company’s stock valued at $873,000 after acquiring an additional 192 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Flowserve Corporation by 1.8% during the 1st quarter. Prudential Financial Inc. now owns 183,581 shares of the industrial products company’s stock valued at $8,889,000 after acquiring an additional 3,160 shares during the period.
A number of equities analysts have issued reports on FLS shares. Cowen and Company reiterated a “buy” rating and set a $55.00 price target on shares of Flowserve Corporation in a research report on Friday, July 28th. BidaskClub cut Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Wolfe Research upgraded Flowserve Corporation from an “underperform” rating to a “market perform” rating and set a $38.00 price objective for the company in a research report on Monday, July 31st. Zacks Investment Research lowered Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $45.00 price target on shares of Flowserve Corporation in a research note on Sunday, September 3rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.45.
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Shares of Flowserve Corporation (NYSE:FLS) opened at 42.68 on Wednesday. The firm’s 50-day moving average price is $40.43 and its 200 day moving average price is $45.22. The firm has a market cap of $5.58 billion, a PE ratio of 53.35 and a beta of 1.47. Flowserve Corporation has a 1-year low of $37.51 and a 1-year 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 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $877.00 million for the quarter, compared to analysts’ expectations of $933.91 million. During the same period in the previous year, the company posted $0.57 EPS. The business’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities research analysts forecast that Flowserve Corporation will post $1.40 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be paid a $0.19 dividend. The ex-dividend date is Thursday, September 21st. This represents a $0.76 annualized dividend and a yield of 1.78%. Flowserve Corporation’s payout ratio is currently 98.70%.
Flowserve Corporation 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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