Huber Capital Management LLC lifted its position in Flowserve Corp (NYSE:FLS) by 14.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,500 shares of the industrial products company’s stock after purchasing an additional 3,000 shares during the quarter. Huber Capital Management LLC’s holdings in Flowserve were worth $1,032,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. University of Texas Investment Managment Co. purchased a new position in shares of Flowserve in the 4th quarter worth about $107,000. Assetmark Inc. boosted its holdings in shares of Flowserve by 26,030.0% in the 4th quarter. Assetmark Inc. now owns 2,613 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 2,603 shares in the last quarter. Zions Bancorporation purchased a new position in shares of Flowserve in the 3rd quarter worth about $117,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Flowserve in the 4th quarter worth about $118,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Flowserve in the 4th quarter worth about $122,000.
A number of research firms have recently issued reports on FLS. Zacks Investment Research cut Flowserve from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Stifel Nicolaus dropped their target price on Flowserve from $47.00 to $44.00 and set a “hold” rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada upgraded Flowserve from an “underperform” rating to a “sector perform” rating in a report on Tuesday, February 20th. Goldman Sachs Group cut Flowserve from a “neutral” rating to a “sell” rating and dropped their target price for the company from $42.65 to $37.00 in a report on Thursday, December 7th. Finally, Robert W. Baird restated a “hold” rating and set a $45.00 target price on shares of Flowserve in a report on Friday, December 15th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.67.
Flowserve Corp (FLS) traded down $0.34 on Wednesday, reaching $44.26. The company’s stock had a trading volume of 622,099 shares, compared to its average volume of 1,504,170. The company has a market cap of $5,790.00, a price-to-earnings ratio of 49.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 1.35. Flowserve Corp has a fifty-two week low of $37.51 and a fifty-two week high of $51.92.
Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.02). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. analysts anticipate that Flowserve Corp will post 1.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Wednesday, March 28th. Flowserve’s payout ratio is 84.44%.
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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