XTX Topco Ltd Acquires 2,901 Shares of Flowserve Corporation (NYSE:FLS)

XTX Topco Ltd boosted its holdings in Flowserve Corporation (NYSE:FLS) by 52.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,464 shares of the industrial products company’s stock after acquiring an additional 2,901 shares during the quarter. XTX Topco Ltd’s holdings in Flowserve were worth $413,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its stake in Flowserve by 6.0% during the first quarter. Federated Hermes Inc. now owns 36,008 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 2,051 shares during the last quarter. Mackenzie Financial Corp grew its stake in Flowserve by 585.9% during the first quarter. Mackenzie Financial Corp now owns 77,620 shares of the industrial products company’s stock worth $3,791,000 after buying an additional 66,303 shares during the last quarter. LPL Financial LLC grew its stake in Flowserve by 5.4% during the first quarter. LPL Financial LLC now owns 70,081 shares of the industrial products company’s stock worth $3,423,000 after buying an additional 3,562 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Flowserve by 2.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,096 shares of the industrial products company’s stock worth $1,763,000 after buying an additional 914 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Flowserve by 57.2% during the first quarter. Cetera Investment Advisers now owns 15,854 shares of the industrial products company’s stock worth $774,000 after buying an additional 5,769 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 0.4%

Shares of NYSE:FLS opened at $52.14 on Friday. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $65.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. The company has a market capitalization of $6.82 billion, a PE ratio of 23.59, a PEG ratio of 1.09 and a beta of 1.28. The company has a 50 day moving average price of $51.64 and a two-hundred day moving average price of $51.40.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. Analysts forecast that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, June 27th. Flowserve’s dividend payout ratio (DPR) is currently 38.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group upped their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Stifel Nicolaus upped their target price on shares of Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $65.78.

About Flowserve

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.