Flowserve Corporation (FLS) Shares Bought by Creative Planning
Creative Planning boosted its stake in shares of Flowserve Corporation (NYSE:FLS) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,408 shares of the industrial products company’s stock after buying an additional 141 shares during the period. Creative Planning’s holdings in Flowserve Corporation were worth $112,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC raised its position in Flowserve Corporation by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock valued at $491,000 after buying an additional 30 shares in the last quarter. Advantus Capital Management Inc raised its position in Flowserve Corporation by 0.5% in the first quarter. Advantus Capital Management Inc now owns 12,978 shares of the industrial products company’s stock valued at $628,000 after buying an additional 63 shares in the last quarter. Stifel Financial Corp raised its position in Flowserve Corporation by 0.5% in the first quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock valued at $770,000 after buying an additional 83 shares in the last quarter. Macquarie Group Ltd. raised its position in Flowserve Corporation by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the industrial products company’s stock valued at $158,000 after buying an additional 100 shares in the last quarter. Finally, Cullinan Associates Inc. raised its position in Flowserve Corporation by 0.5% in the second quarter. Cullinan Associates Inc. now owns 22,050 shares of the industrial products company’s stock valued at $1,024,000 after buying an additional 100 shares in the last quarter.
Flowserve Corporation (NYSE FLS) traded up 0.28% during trading on Wednesday, reaching $39.55. The company had a trading volume of 453,296 shares. The company has a market capitalization of $5.15 billion, a P/E ratio of 43.94 and a beta of 1.46. The stock has a 50 day moving average of $44.05 and a 200-day moving average of $47.13. Flowserve Corporation has a 12 month low of $38.27 and a 12 month high of $52.10.
Flowserve Corporation (NYSE:FLS) last released its quarterly earnings results 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. The company had revenue of $877 million for the quarter, compared to the consensus estimate of $933.91 million. Flowserve Corporation had a return on equity of 13.20% and a net margin of 2.68%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. Equities research analysts expect that Flowserve Corporation will post $1.49 EPS for the current fiscal year.
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Several equities analysts have recently weighed in on the company. Wolfe Research assumed coverage on Flowserve Corporation in a research note on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price objective on the stock. BMO Capital Markets lifted their price objective on Flowserve Corporation from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $46.00 price objective on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. Citigroup Inc. reaffirmed a “neutral” rating and issued a $51.00 price objective (down from $54.00) on shares of Flowserve Corporation in a research note on Monday, July 10th. Finally, BidaskClub raised Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Flowserve Corporation currently has an average rating of “Hold” and an average target price of $48.36.
Flowserve Corporation Company 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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