Diversified Trust Co Has $2.90 Million Stake in Flowserve Co. (NYSE:FLS)

Diversified Trust Co lowered its holdings in shares of Flowserve Co. (NYSE:FLS) by 33.2% during the second quarter, Holdings Channel reports. The institutional investor owned 60,337 shares of the industrial products company’s stock after selling 29,930 shares during the quarter. Diversified Trust Co’s holdings in Flowserve were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of FLS. International Assets Investment Management LLC bought a new position in shares of Flowserve during the 4th quarter worth approximately $3,695,000. Nisa Investment Advisors LLC lifted its holdings in shares of Flowserve by 0.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 52,148 shares of the industrial products company’s stock valued at $2,150,000 after acquiring an additional 450 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Flowserve by 73.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,114 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 2,584 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Flowserve in the 4th quarter worth about $1,521,000. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Flowserve during the 4th quarter worth about $464,000. Institutional investors own 93.93% of the company’s stock.

Insider Activity at Flowserve

In related news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the completion of the transaction, the chief executive officer now owns 407,243 shares in the company, valued at $20,354,005.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by company insiders.

Flowserve Price Performance

Shares of FLS stock remained flat at $46.53 during trading hours on Wednesday. The stock had a trading volume of 27,034 shares, compared to its average volume of 1,047,396. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.28 and a current ratio of 2.00. Flowserve Co. has a one year low of $35.31 and a one year high of $52.09. The firm’s fifty day simple moving average is $48.00 and its 200 day simple moving average is $46.39. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.42.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 EPS. As a group, sell-side analysts forecast that Flowserve Co. will post 2.72 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Friday, June 28th. Flowserve’s payout ratio is presently 47.46%.

Analyst Ratings Changes

Several analysts have weighed in on FLS shares. Bank of America upped their price objective on shares of Flowserve from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Robert W. Baird boosted their price objective on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. TD Cowen raised their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup upped their price target on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.11.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.