2 weeks Ago By Defense World Staff
Delta Investment Management LLC acquired a new position in shares of Flowserve Co. ( NYSE:FLS – Free Report ) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,881 shares of the industrial products company’s stock, valued at approximately $283,000.
A number of other large investors have also added to or reduced their stakes in FLS. Signaturefd LLC increased its stake in shares of Flowserve by 185.9% in the second quarter.
Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Flowserve in the second quarter worth about $34,000. YHB Investment Advisors Inc.
purchased a new position in shares of Flowserve in the first quarter worth about $36,000. Raleigh Capital Management Inc. increased its stake in shares of Flowserve by 122.
4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 596 shares in the last quarter.
Finally, GAMMA Investing LLC increased its stake in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 616 shares in the last quarter.
Hedge funds and other institutional investors own 93.93% of the company’s stock. Wall Street Analyst Weigh In Several equities analysts have recently weighed in on FLS shares.
Stifel Nicolaus lifted their target price on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st.
Robert W. Baird raised their price objective on shares of Flowserve from $57.00 to $60.
00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen raised their price objective on shares of Flowserve from $55.00 to $57.
00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th.
Finally, Royal Bank of Canada raised their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st.
Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.
88. Flowserve Trading Up 0.7 % Shares of Flowserve stock opened at $52.
51 on Friday. Flowserve Co. has a 1 year low of $35.
31 and a 1 year high of $53.86. The firm has a market cap of $6.
91 billion, a PE ratio of 29.67, a PEG ratio of 1.16 and a beta of 1.
39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.
00 and a quick ratio of 1.40. The company has a 50 day simple moving average of $48.
03 and a two-hundred day simple moving average of $47.68. Flowserve ( NYSE:FLS – Get Free Report ) last announced its earnings results on Monday, July 29th.
The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.
10. Flowserve had a net margin of 5.67% and a return on equity of 16.
74%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.
13 billion. During the same period in the previous year, the business posted $0.52 earnings per share.
Flowserve’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts expect that Flowserve Co.
will post 2.76 earnings per share for the current fiscal year. Flowserve Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th.
Stockholders of record on Friday, September 27th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 27th.
This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.60%.
Flowserve’s payout ratio is 47.46%. Flowserve Profile ( Free Report ) Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific.
It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment 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 and in the oil and gas production and process markets. Further Reading Five stocks we like better than Flowserve How to Calculate Inflation Rate Rocket Lab Stock Soars: Should Investors Chase the Rally? Stock Average Calculator KB Home Slips After Earnings: What’s Next for Homebuilders? What Are Dividends? Buy the Best Dividend Stocks Micron Stock Soars as AI Demand Fuels Big Q4 Earnings Beat Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.
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