Canada Pension Plan Investment Board Purchases 2,500 Shares of FLIR Systems, Inc. (FLIR)
Canada Pension Plan Investment Board boosted its position in FLIR Systems, Inc. (NASDAQ:FLIR) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,700 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,500 shares during the period. Canada Pension Plan Investment Board’s holdings in FLIR Systems were worth $1,467,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of FLIR. OppenheimerFunds Inc. acquired a new position in FLIR Systems in the 1st quarter worth about $203,000. Wellington Management Group LLP acquired a new position in FLIR Systems in the 1st quarter worth about $248,000. Teachers Advisors LLC increased its holdings in FLIR Systems by 32.0% in the 1st quarter. Teachers Advisors LLC now owns 223,789 shares of the scientific and technical instruments company’s stock worth $8,119,000 after purchasing an additional 54,209 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in FLIR Systems by 7.4% in the 1st quarter. Nuveen Asset Management LLC now owns 9,889 shares of the scientific and technical instruments company’s stock worth $359,000 after purchasing an additional 681 shares in the last quarter. Finally, Capstone Asset Management Co. increased its holdings in FLIR Systems by 1.9% in the 2nd quarter. Capstone Asset Management Co. now owns 8,778 shares of the scientific and technical instruments company’s stock worth $304,000 after purchasing an additional 167 shares in the last quarter. 89.74% of the stock is owned by institutional investors and hedge funds.
Shares of FLIR Systems, Inc. (NASDAQ FLIR) opened at $46.53 on Friday. The firm has a market capitalization of $6,447.85, a PE ratio of 25.57 and a beta of 0.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.48 and a quick ratio of 2.36. FLIR Systems, Inc. has a one year low of $33.75 and a one year high of $48.06.
FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $446.06 million. FLIR Systems had a return on equity of 14.30% and a net margin of 12.30%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. sell-side analysts expect that FLIR Systems, Inc. will post 1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. FLIR Systems’s payout ratio is 37.74%.
A number of brokerages have issued reports on FLIR. Zacks Investment Research cut FLIR Systems from a “buy” rating to a “hold” rating in a report on Thursday. SunTrust Banks, Inc. upped their target price on FLIR Systems from $37.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $42.00) on shares of FLIR Systems in a report on Thursday, October 26th. Raymond James Financial, Inc. upped their target price on FLIR Systems to $60.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 25th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $34.00 target price on shares of FLIR Systems in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.33.
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In related news, SVP Todd M. Duchene sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $47.00, for a total transaction of $423,000.00. Following the completion of the sale, the senior vice president now owns 29,767 shares of the company’s stock, valued at $1,399,049. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian E. Harding sold 1,836 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $46.90, for a total value of $86,108.40. Following the sale, the vice president now directly owns 6,646 shares of the company’s stock, valued at approximately $311,697.40. The disclosure for this sale can be found here. In the last three months, insiders sold 283,356 shares of company stock valued at $11,034,806. Insiders own 3.00% of the company’s stock.
FLIR Systems Profile
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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