Virginia Retirement Systems ET AL acquired a new stake in FLIR Systems, Inc. (NASDAQ:FLIR) during the first quarter, according to its most recent filing with the SEC. The firm acquired 62,300 shares of the scientific and technical instruments company’s stock, valued at approximately $2,964,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of FLIR Systems in the first quarter valued at about $480,000. Brinker Capital Inc. grew its holdings in FLIR Systems by 30.3% during the first quarter. Brinker Capital Inc. now owns 41,105 shares of the scientific and technical instruments company’s stock worth $1,956,000 after purchasing an additional 9,552 shares during the period. BB&T Corp grew its holdings in FLIR Systems by 95.7% during the first quarter. BB&T Corp now owns 18,228 shares of the scientific and technical instruments company’s stock worth $867,000 after purchasing an additional 8,915 shares during the period. LaFleur & Godfrey LLC grew its holdings in FLIR Systems by 6.0% during the first quarter. LaFleur & Godfrey LLC now owns 21,005 shares of the scientific and technical instruments company’s stock worth $999,000 after purchasing an additional 1,180 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in FLIR Systems by 9.3% during the first quarter. Meeder Asset Management Inc. now owns 17,955 shares of the scientific and technical instruments company’s stock worth $853,000 after purchasing an additional 1,524 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.
A number of equities analysts recently commented on FLIR shares. Robert W. Baird upgraded FLIR Systems from a “neutral” rating to an “outperform” rating in a report on Friday, January 25th. BidaskClub upgraded FLIR Systems from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded FLIR Systems from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. ValuEngine upgraded FLIR Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, SunTrust Banks boosted their price target on FLIR Systems to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $62.43.
Shares of NASDAQ:FLIR traded up $1.32 during trading on Wednesday, hitting $50.99. 879,520 shares of the company were exchanged, compared to its average volume of 964,577. The company has a market capitalization of $6.86 billion, a PE ratio of 22.97 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.61 and a current ratio of 2.45. FLIR Systems, Inc. has a 1-year low of $40.52 and a 1-year high of $63.88.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.05. The company had revenue of $444.70 million during the quarter, compared to the consensus estimate of $440.98 million. FLIR Systems had a net margin of 17.13% and a return on equity of 16.84%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. On average, equities analysts forecast that FLIR Systems, Inc. will post 2.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a $0.17 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%. FLIR Systems’s payout ratio is 30.63%.
In other news, VP Jeffrey Frank sold 14,278 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $51.77, for a total transaction of $739,172.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Earl R. Lewis sold 132,100 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $52.11, for a total transaction of $6,883,731.00. Following the transaction, the director now directly owns 635,487 shares in the company, valued at approximately $33,115,227.57. The disclosure for this sale can be found here. Insiders sold 348,899 shares of company stock valued at $18,010,392 over the last 90 days. 2.00% of the stock is currently owned by company insiders.
About FLIR Systems
FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.
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