Latest Stocks: Nationwide Fund Advisors Has $1,759,000 Stake in Flowserve Corp (FLS)

Latest Stocks: Nationwide Fund Advisors Has $1,759,000 Stake in Flowserve Corp (FLS)

Nationwide Fund Advisors continued to hold its stake in Flowserve Corp (NYSE:FLS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,327 shares of the industrial products company’s stock at the end of the first quarter. Nationwide Fund Advisors’ holdings in Flowserve Corp were worth $1,759,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of FLS. Macquarie Group Ltd. raised its stake in 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 in the last quarter. Federated Investors Inc. PA raised its stake in Flowserve Corp by 12.8% in the fourth quarter. Federated Investors Inc. PA now owns 3,398 shares of the industrial products company’s stock valued at $163,000 after buying an additional 386 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Flowserve Corp during the fourth quarter valued at about $203,000. Perigon Wealth Management LLC acquired a new stake in Flowserve Corp during the fourth quarter valued at about $218,000. Finally, Cigna Investments Inc. New acquired a new stake in Flowserve Corp during the fourth quarter valued at about $227,000. 98.48% of the stock is owned by institutional investors.

Shares of Flowserve Corp (NYSE FLS) opened at 48.56 on Tuesday. Flowserve Corp has a 52 week low of $39.13 and a 52 week high of $52.50. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 52.22 and a beta of 1.58. The firm’s 50-day moving average price is $49.19 and its 200 day moving average price is $48.68.

Flowserve Corp (NYSE:FLS) last announced its quarterly earnings results on Monday, May 1st. The industrial products company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Flowserve Corp had a net margin of 3.60% and a return on equity of 17.93%. The firm had revenue of $863.63 million during the quarter, compared to the consensus estimate of $817.56 million. During the same quarter last year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Flowserve Corp will post $1.77 EPS for the current year.

Several equities research analysts have issued reports on FLS shares. Cowen and Company raised Flowserve Corp from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $41.00 to $55.00 in a research note on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $90.00 price target 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 price target on shares of Flowserve Corp in a research note on Wednesday, May 3rd. BMO Capital Markets raised Flowserve Corp from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $53.00 in a research note on Monday, March 27th. Finally, Robert W. Baird raised Flowserve Corp from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Wednesday, March 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Flowserve Corp has an average rating of “Hold” and a consensus price target of $57.86. Flowserve Corp Company Profile

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