Traders Purchase High Volume of Call Options on Flowserve Corporation (FLS)
Flowserve Corporation (NYSE:FLS) saw unusually large options trading activity on Thursday. Stock traders acquired 852 call options on the company. This is an increase of approximately Infinity compared to the typical daily volume of 0 call options.
Flowserve Corporation (NYSE:FLS) opened at $39.25 on Friday. The firm has a market cap of $5,127.42, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 2.60 and a beta of 1.55. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.29 and a current ratio of 2.12.
Flowserve Corporation (NYSE:FLS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $883.38 million for the quarter, compared to analysts’ expectations of $871.20 million. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. research analysts predict that Flowserve Corporation will post 1.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 22nd were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.76 annualized dividend and a yield of 1.94%. Flowserve Corporation’s dividend payout ratio is currently 58.92%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC increased its stake in Flowserve Corporation by 2.5% in the 2nd quarter. Verition Fund Management LLC now owns 5,232 shares of the industrial products company’s stock valued at $243,000 after buying an additional 126 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in Flowserve Corporation in the 2nd quarter valued at $840,000. GAM Holding AG increased its stake in Flowserve Corporation by 2.4% in the 2nd quarter. GAM Holding AG now owns 56,822 shares of the industrial products company’s stock valued at $2,638,000 after buying an additional 1,306 shares during the period. Legal & General Group Plc increased its stake in Flowserve Corporation by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 649,800 shares of the industrial products company’s stock valued at $30,170,000 after buying an additional 18,039 shares during the period. Finally, Bank of America Corp DE increased its stake in Flowserve Corporation by 21.1% in the 1st quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock valued at $25,686,000 after buying an additional 92,488 shares during the period.
FLS has been the topic of a number of research analyst reports. Susquehanna Bancshares Inc raised shares of Flowserve Corporation from a “neutral” rating to a “positive” rating and cut their price objective for the stock from $50.00 to $46.00 in a report on Tuesday, August 15th. BMO Capital Markets reissued an “outperform” rating and set a $47.00 price objective (down previously from $56.00) on shares of Flowserve Corporation in a report on Friday, July 28th. Cowen and Company reissued a “buy” rating and set a $50.00 price objective on shares of Flowserve Corporation in a report on Thursday, August 10th. Zacks Investment Research cut shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, UBS AG reissued a “neutral” rating and set a $46.00 price objective (down previously from $50.00) on shares of Flowserve Corporation in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.27.
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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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