Prospector Partners LLC Has $12.56 Million Holdings in FLIR Systems, Inc. (FLIR)
Prospector Partners LLC lessened its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 322,850 shares of the scientific and technical instruments company’s stock after selling 3,800 shares during the quarter. FLIR Systems comprises approximately 1.9% of Prospector Partners LLC’s holdings, making the stock its 9th biggest holding. Prospector Partners LLC owned approximately 0.23% of FLIR Systems worth $12,562,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Bank of Australia raised its stake in shares of FLIR Systems by 14.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 400 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of FLIR Systems in the 2nd quarter valued at $116,000. Sei Investments Co. raised its stake in shares of FLIR Systems by 76.3% in the 3rd quarter. Sei Investments Co. now owns 4,507 shares of the scientific and technical instruments company’s stock valued at $175,000 after acquiring an additional 1,951 shares during the period. ETF Managers Group LLC purchased a new position in shares of FLIR Systems in the 2nd quarter valued at $171,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of FLIR Systems in the 3rd quarter valued at $211,000. Institutional investors own 91.55% of the company’s stock.
FLIR has been the topic of a number of research reports. SunTrust Banks raised their target price on shares of FLIR Systems from $37.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird reissued a “hold” rating and issued a $34.00 target price on shares of FLIR Systems in a research note on Tuesday, October 24th. Needham & Company LLC raised their target price on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research note on Thursday, October 26th. Finally, Raymond James Financial lifted their price target on shares of FLIR Systems to $60.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. FLIR Systems presently has a consensus rating of “Buy” and a consensus price target of $46.33.
In related news, SVP Todd M. Duchene sold 9,000 shares of FLIR Systems stock in a transaction on Monday, October 30th. The shares were sold at an average price of $47.00, for a total transaction of $423,000.00. Following the sale, the senior vice president now owns 29,767 shares of the company’s stock, valued at approximately $1,399,049. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven E. Wynne sold 11,200 shares of FLIR Systems stock in a transaction on Friday, October 27th. The stock was sold at an average price of $47.34, for a total transaction of $530,208.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,036 shares of company stock worth $1,039,316 in the last ninety days. 3.00% of the stock is currently owned by insiders.
Shares of FLIR Systems, Inc. (NASDAQ FLIR) opened at $46.16 on Thursday. FLIR Systems, Inc. has a one year low of $33.75 and a one year high of $48.06. The stock has a market cap of $6,409.06, a price-to-earnings ratio of 25.41 and a beta of 0.62. The company has a current ratio of 3.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.22.
FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The firm had revenue of $464.70 million for the quarter, compared to the consensus estimate of $446.06 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. analysts expect that FLIR Systems, Inc. will post 1.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 22nd. FLIR Systems’s dividend payout ratio (DPR) is 37.74%.
FLIR Systems Company Profile
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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