ANTIPODES PARTNERS Ltd bought a new position in Flowserve Co. (NYSE:FLS – Get Rating) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,313,303 shares of the industrial products company’s stock, valued at approximately $47,147,000. Flowserve makes up approximately 1.7% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 23rd biggest holding. ANTIPODES PARTNERS Ltd owned about 1.01% of Flowserve as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Flowserve by 12.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,173 shares of the industrial products company’s stock valued at $652,000 after purchasing an additional 1,951 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of Flowserve in the 1st quarter worth about $718,000. Monarch Capital Management Inc. lifted its position in Flowserve by 8.0% during the 1st quarter. Monarch Capital Management Inc. now owns 66,529 shares of the industrial products company’s stock valued at $2,388,000 after acquiring an additional 4,925 shares during the period. AE Wealth Management LLC purchased a new position in Flowserve during the 1st quarter valued at about $1,952,000. Finally, Nordea Investment Management AB purchased a new position in Flowserve during the 1st quarter valued at about $182,253,000. Hedge funds and other institutional investors own 97.65% of the company’s stock.
A number of brokerages recently issued reports on FLS. Citigroup lowered their price target on shares of Flowserve from $42.00 to $38.00 in a research report on Wednesday, May 4th. Morgan Stanley lifted their target price on shares of Flowserve from $32.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Stifel Nicolaus decreased their target price on shares of Flowserve from $42.00 to $35.00 in a report on Wednesday, May 4th. StockNews.com assumed coverage on shares of Flowserve in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Royal Bank of Canada decreased their target price on shares of Flowserve from $38.00 to $33.00 in a report on Wednesday, May 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.13.
Flowserve (NYSE:FLS – Get Rating) last issued its quarterly earnings data on Monday, May 2nd. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). The company had revenue of $821.06 million during the quarter, compared to analysts’ expectations of $859.39 million. Flowserve had a net margin of 2.74% and a return on equity of 8.57%. During the same quarter last year, the firm posted $0.28 earnings per share. Analysts anticipate that Flowserve Co. will post 1.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 24th will be issued a $0.20 dividend. The ex-dividend date is Thursday, June 23rd. This represents a $0.80 annualized dividend and a yield of 2.78%. Flowserve’s dividend payout ratio (DPR) is currently 108.11%.
Flowserve Company Profile (Get Rating)
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines.
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