Pacad Investment Ltd. Buys Shares of 5,400 Flowserve Corporation (FLS)

Pacad Investment Ltd. bought a new position in Flowserve Corporation (NYSE:FLS) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 5,400 shares of the industrial products company’s stock, valued at approximately $251,000.

Several other large investors also recently bought and sold shares of the company. Gateway Investment Advisers LLC lifted its position in shares of Flowserve Corporation by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 30 shares during the period. CIBC Asset Management Inc lifted its position in shares of Flowserve Corporation by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 13,385 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 46 shares during the period. Federated Investors Inc. PA lifted its position in shares of Flowserve Corporation by 1.8% in the 2nd quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 46 shares during the period. Advantus Capital Management Inc lifted its position in shares of Flowserve Corporation by 0.5% in the 1st quarter. Advantus Capital Management Inc now owns 12,978 shares of the industrial products company’s stock worth $628,000 after purchasing an additional 63 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of Flowserve Corporation by 0.5% in the 1st quarter. Stifel Financial Corp now owns 15,924 shares of the industrial products company’s stock worth $770,000 after purchasing an additional 83 shares during the period.

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Flowserve Corporation (NYSE:FLS) opened at 40.22 on Tuesday. Flowserve Corporation has a one year low of $37.51 and a one year high of $52.10. The firm has a 50-day moving average of $40.34 and a 200 day moving average of $45.78. The stock has a market capitalization of $5.25 billion, a PE ratio of 50.28 and a beta of 1.45.

Flowserve Corporation (NYSE:FLS) last issued its earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.21. Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The business had revenue of $877 million for the quarter, compared to the consensus estimate of $933.91 million. During the same quarter in the previous year, the company earned $0.57 earnings per share. The firm’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts anticipate that Flowserve Corporation will post $1.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 21st. Flowserve Corporation’s payout ratio is 98.70%.

Several equities research analysts have recently commented on FLS shares. Royal Bank Of Canada reaffirmed a “sell” rating and issued a $46.00 target price on shares of Flowserve Corporation in a research report on Tuesday, June 6th. BidaskClub raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Cowen and Company reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Flowserve Corporation in a research report on Monday, June 26th. BMO Capital Markets reaffirmed a “buy” rating and issued a $56.00 target price on shares of Flowserve Corporation in a research report on Tuesday, June 27th. Finally, Zacks Investment Research cut shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Flowserve Corporation presently has an average rating of “Hold” and an average target price of $47.45.

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.

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

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