Trexquant Investment LP reduced its position in shares of Flowserve Corporation (NYSE:FLS) by 26.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,002 shares of the industrial products company’s stock after selling 9,698 shares during the period. Trexquant Investment LP’s holdings in Flowserve Corporation were worth $1,254,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank raised its position in Flowserve Corporation by 28.0% in the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after buying an additional 480 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Flowserve Corporation during the first quarter valued at approximately $116,000. Creative Planning raised its position in Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after buying an additional 141 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Flowserve Corporation during the first quarter valued at approximately $151,000. Finally, 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.
Shares of Flowserve Corporation (NYSE FLS) traded down 0.70% during midday trading on Friday, reaching $38.12. The company’s stock had a trading volume of 1,382,578 shares. The company has a market capitalization of $4.98 billion, a P/E ratio of 47.65 and a beta of 1.46. The stock has a 50 day moving average of $43.46 and a 200-day moving average of $46.92. Flowserve Corporation has a 1-year low of $38.11 and a 1-year high of $52.10.
Flowserve Corporation (NYSE:FLS) last announced its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.43 by $0.21. Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The firm had revenue of $877 million during the quarter, compared to analyst estimates of $933.91 million. During the same quarter in the previous year, the business posted $0.57 EPS. Flowserve Corporation’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that Flowserve Corporation will post $1.43 earnings per share for the current year.
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Several brokerages have recently issued reports on FLS. Zacks Investment Research upgraded Flowserve Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, April 24th. Royal Bank Of Canada reiterated a “sell” rating and issued a $46.00 price objective on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price objective (up from $53.00) on shares of Flowserve Corporation in a research note on Wednesday, May 3rd. BMO Capital Markets increased 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. Finally, BidaskClub upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Flowserve Corporation 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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