Favorable Press Coverage Somewhat Likely to Affect Flowserve Corporation (FLS) Share Price

Xavier Trudeau
Juillet 18, 2017

OppenheimerFunds Inc. boosted its position in shares of Flowserve Corporation (NYSE:FLS) by 10.3% during the first quarter, Holdings Channel reports. Creative Planning raised its position in Flowserve Corporation by 6.2% in the second quarter.

Neville Rodie & Shaw Inc increased Flowserve Corp (FLS) stake by 21.12% reported in 2016Q4 SEC filing. Ameritas Investment Partners Inc. bought a new position in Flowserve Corporation during the first quarter valued at about $151,000. Causeway Capital Management LLC purchased a new stake in Flowserve Corporation during the first quarter worth about $88,532,000. 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 in the last quarter. ING Groep NV boosted its position in shares of Flowserve Corporation by 25.4% in the fourth quarter. Pictet Asset Management Ltd. now owns 1,194,634 shares of the industrial products company's stock worth $57,845,000 after buying an additional 1,127,266 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in shares of Flowserve Corporation by 4.5% in the first quarter. Advantus Capital Management Inc now owns 12,978 shares of the industrial products company's stock valued at $628,000 after buying an additional 63 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in Flowserve Corporation by 0.4% in the fourth quarter.

Flowserve Corporation (NYSE:FLS)'s stock had its "buy" rating reissued by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. The company's 50-day moving average is $47.61 and its 200-day moving average is $48.43. The company has market cap of $6.08 billion. Flowserve Corporation has a one year low of $39.13 and a one year high of $52.10.

Flowserve Corporation (NYSE:FLS) last announced its earnings results on Monday, May 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.20 by $0.05. The business had revenue of $863.63 million for the quarter, compared to the consensus estimate of $817.56 million. Flowserve Corporation had a net margin of 3.12% and a return on equity of 15.76%. The firm's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period previous year, the firm earned $0.39 EPS. Equities research analysts expect that Flowserve Corporation will post $1.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 23rd were issued a $0.19 dividend. Moreover, Blackrock Gp Limited has 0.02% invested in Flowserve Corp (NYSE:FLS) for 1.05 million shares. The ex-dividend date was Wednesday, June 21st. BMO Capital Markets reissued a "buy" rating and issued a $56.00 price target on shares of Flowserve Corporation in a report on Tuesday, June 27th. If you are accessing this story on another site, it was stolen and republished in violation of USA & worldwide copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2017/07/17/flowserve-corporation-nysefls-upgraded-to-hold-at-bidaskclub-updated.html.

A number of research analysts have recently issued reports on the company. Citigroup Inc. reaffirmed a "neutral" rating and set a $51.00 price objective (down from $54.00) on shares of Flowserve Corporation in a research note on Monday, July 10th. Finally, BidaskClub raised shares of Flowserve Corporation from a "sell" rating to a "hold" rating in a report on Tuesday, June 13th. OConnor Carey also sold $495,002 worth of Flowserve Corp (NYSE:FLS) shares. 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Flowserve Corporation now has an average rating of "Hold" and a consensus target price of $50.10.

Flowserve Corporation is a manufacturer and aftermarket service well-known provider of flow control systems. The Company's divisions 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.

Several hedge funds have recently made changes to their positions in FLS.

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