Trexquant Investment LP Takes Position in Flowserve Corp (FLS)

Trexquant Investment LP bought a new stake in shares of Flowserve Corp (NYSE:FLS) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 36,700 shares of the industrial products company’s stock, valued at approximately $1,777,000.

Other hedge funds have also made changes to their positions in the company. HighPoint Advisor Group LLC increased its stake in shares of Flowserve Corp by 0.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,848 shares of the industrial products company’s stock valued at $233,000 after buying an additional 19 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Flowserve Corp by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,478 shares of the industrial products company’s stock valued at $359,000 after buying an additional 32 shares during the last quarter. Highlander Capital Management LLC increased its stake in shares of Flowserve Corp by 0.6% in the third quarter. Highlander Capital Management LLC now owns 15,575 shares of the industrial products company’s stock valued at $751,000 after buying an additional 100 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Flowserve Corp by 0.3% in the fourth quarter. Public Sector Pension Investment Board now owns 28,700 shares of the industrial products company’s stock valued at $1,379,000 after buying an additional 100 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Flowserve Corp 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 during the last quarter. 98.48% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Flowserve Corp (NYSE:FLS)

Flowserve Corp (NYSE:FLS) traded up 1.13% during mid-day trading on Friday, hitting $49.11. The stock had a trading volume of 1,674,408 shares. The stock has a 50 day moving average of $49.07 and a 200-day moving average of $48.22. The firm has a market cap of $6.41 billion, a P/E ratio of 52.81 and a beta of 1.58. Flowserve Corp has a 1-year low of $39.13 and a 1-year high of $52.50.

Flowserve Corp (NYSE:FLS) last posted its quarterly earnings data on Monday, May 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Flowserve Corp had a return on equity of 17.93% and a net margin of 3.60%. The firm had revenue of $863.63 million for the quarter, compared to the consensus estimate of $817.56 million. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts predict that Flowserve Corp will post $1.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 23rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, June 21st. Flowserve Corp’s dividend payout ratio is 66.09%.

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Several analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Flowserve Corp in a research note on Tuesday, March 28th. Royal Bank of Canada reaffirmed a “sell” rating and set a $46.00 target price on shares of Flowserve Corp in a research note on Wednesday, May 3rd. BMO Capital Markets lifted their target price on Flowserve Corp from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Zacks Investment Research raised Flowserve Corp from a “strong sell” rating to a “hold” rating in a research note on Monday, April 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 target price (up previously from $53.00) on shares of Flowserve Corp in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.86.

Flowserve Corp 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.

12 Month Chart for NYSE:FLS

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