The stock is trading at $44.61 which is slightly above $42.58, the stock’s 50 day moving average and a tad below the 200 day moving average of $44.90. The 50 day moving average went up $2.03 or +4.77% whereas the 200 day moving average was down $-0.29 or -0.66%. Trading volume for Flowserve Corporation was 991K by the end of trading on Tuesday. Trading volume was down 28.85% under the stocks average daily volume.
Traders are feeling more bullish on shares of the company recently if you take into consideration the fall in short interest. The company saw a fall in short interest from September 15, 2017 to September 29, 2017 of -3.59%. Short shares fell from 8,982,534 to 8,660,318 over that period. The days to cover increased to 8.0 and the percentage of shorted shares is 0.07% as of September 29.
These firms have modified their investment in FLS. As of quarter end Gateway Investment Advisers LLC had disposed of a total of 382 shares trimming its stake by 3.6%. The value of the investment in FLS went from $491,000 to $434,000 a change of 11.6% for the reporting period. Central Trust Co reduced its stake by shedding 488 shares a decrease of 8.1% in the quarter. Central Trust Co now holds 5,545 shares with a value of $236,000. The total value of its holdings decreased 15.7%.
State Treasurer State Of Michigan downsized its holdings by selling 3,300 shares a decrease of 7.7% as of 09/30/2017. State Treasurer State Of Michigan currently owns 39,675 shares worth $1,690,000. The value of the position overall is down by 15.3%. As of the end of the quarter Reilly Financial Advisors, LLC had sold 340 shares trimming its holdings by 54.4%. The value of the investment in Flowserve Corporation decreased from $29,000 to $12,000 a change of $17,000 since the last quarter.
On July 11, 2017 Wolfe Research started covering the stock by announcing an initial rating of “Underperform”. July 28 investment analysts at BMO Capital left the company rating at “Outperform” and raised the price expectation to $47.00 from $44.00.
On July 31 the company was rated “Peer Perform” in a report from Wolfe Research a boost from the previous “Underperform” rating. On July 31 BMO Capital maintained a company rating of “Outperform” but raised the price target from $47.00 to $48.00.
October 9 investment analysts at Citigroup made no change to the stock rating of “Neutral” and lowered the price target from $51.00 to $48.00.
The company is so far trading down by 1.70% percent from yesterday’s close. Additionally the company recently announced a dividend which was paid on Friday the 6th of October 2017. The dividend payment was $0.190 per share for the quarter which comes to $0.76 on an annualized basis. This dividend represents a yield of $1.71 which is the dividend as a percentage of the current share price. The ex-dividend date was Thursday the 21st of September 2017.
The P/E ratio is 55.76 and the market cap of the company is 5.83B. As of the last earnings report the EPS was $0.80 and is expected to be $1.39 for the current year with 130,637,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.57 and the next full year EPS is anticipated to be $1.99.
Flowserve Corporation, launched on May 1, 1912, is a manufacturer and aftermarket service provider of flow control systems. The Business’s segments include Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). The Business’s geographic segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Company develops and manufactures precision-engineered flow control equipment integral to the movement, control and protection of the flow of materials in its customer’s critical processes. The Business’s product portfolio of pumps, valves, seals, automation and aftermarket services supports infrastructure industries, including oil and gas, chemical, power generation (including nuclear, fossil and renewable) and water management, as well as certain general industrial markets where its products and services add value. The Company offers a range of aftermarket equipment services, such as installation, diagnostics, repair and retrofitting through manufacturing platform and network of Quick Response Centers (QRCs). The Business’s products include oil and gas, general industries, chemical, power generation and water management..