Posted by admin on Jul 23rd, 2022

SG Americas Securities LLC lifted its stake in Flowserve Co. (NYSE:FLS – Get Rating) by 102.2% in the first quarter, Holdings Channel.com reports. The fund owned 80,640 shares of the industrial products company’s stock after purchasing an additional 40,760 shares during the period. SG Americas Securities LLC’s holdings in Flowserve were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in FLS. Nordea Investment Management AB bought a new position in shares of Flowserve in the first quarter worth $182,253,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Flowserve in the first quarter worth $47,147,000. Millennium Management LLC boosted its holdings in shares of Flowserve by 106.5% in the fourth quarter. Millennium Management LLC now owns 2,286,258 shares of the industrial products company’s stock worth $69,959,000 after acquiring an additional 1,179,093 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Flowserve by 129.1% in the fourth quarter. Brown Advisory Inc. now owns 1,348,502 shares of the industrial products company’s stock worth $41,264,000 after acquiring an additional 759,822 shares during the period. Finally, Turtle Creek Asset Management Inc. boosted its holdings in shares of Flowserve by 21.2% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,109,157 shares of the industrial products company’s stock worth $64,540,000 after acquiring an additional 368,345 shares during the period. 97.65% of the stock is owned by institutional investors.

A number of equities analysts have recently commented on the company. Citigroup cut their price target on Flowserve from $42.00 to $38.00 in a report on Wednesday, May 4th. Bank of America raised Flowserve from an “underperform” rating to a “neutral” rating and set a $31.00 price objective for the company in a research note on Monday, July 11th. Royal Bank of Canada dropped their price objective on Flowserve from $38.00 to $33.00 in a research note on Wednesday, May 4th. Morgan Stanley lifted their price objective on Flowserve from $32.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Finally, StockNews.com started coverage on Flowserve in a research note on Thursday, March 31st. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Shares of FLS stock opened at $29.66 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.07 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $29.59 and a two-hundred day moving average price of $31.87. Flowserve Co. has a 12-month low of $26.84 and a 12-month high of $43.63. The firm has a market cap of $3.87 billion, a P/E ratio of 40.08, a price-to-earnings-growth ratio of 1.21 and a beta of 1.54.

Flowserve (NYSE:FLS – Get Rating) last issued its quarterly earnings results on Monday, May 2nd. The industrial products company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). Flowserve had a return on equity of 8.57% and a net margin of 2.74%. The firm had revenue of $821.06 million for the quarter, compared to the consensus estimate of $859.39 million. During the same period last year, the firm earned $0.28 EPS. Equities analysts anticipate that Flowserve Co. will post 1.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Friday, June 24th were issued a $0.20 dividend. The ex-dividend date was Thursday, June 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.70%. Flowserve’s dividend payout ratio is currently 108.11%.

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. It operates in two segments, Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines.

Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Co. (NYSE:FLS – Get Rating).

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.

108,330 Shares in Privia Health Group, Inc. (NASDAQ:PRVA) Bought by SG Americas Securities LLC

SG Americas Securities LLC Increases Stock Position in McCormick & Company, Incorporated (NYSE:MKC)