Blair William & Co. IL Buys 7,650 Shares of Flowserve Corporation (NYSE:FLS)

Blair William & Co. IL lifted its stake in Flowserve Corporation (NYSE:FLS) by 130.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,509 shares of the industrial products company’s stock after purchasing an additional 7,650 shares during the period. Blair William & Co. IL’s holdings in Flowserve were worth $660,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FLS. Park Square Financial Group LLC bought a new position in Flowserve during the 4th quarter worth about $33,000. Colonial Trust Co SC grew its holdings in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 478 shares in the last quarter. True Wealth Design LLC grew its holdings in Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 394 shares in the last quarter. Signaturefd LLC grew its holdings in Flowserve by 71.5% during the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 429 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in Flowserve by 1,577.1% during the 4th quarter. Sunbelt Securities Inc. now owns 1,392 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 1,309 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FLS has been the topic of several recent research reports. Citigroup increased their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Robert W. Baird dropped their target price on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Royal Bank Of Canada raised their price target on shares of Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. One 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’s stock. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Buy” and a consensus price target of $65.78.

Flowserve Stock Down 0.4%

NYSE:FLS opened at $52.14 on Monday. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The stock has a market capitalization of $6.82 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.09 and a beta of 1.28. 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’s 50-day simple moving average is $51.64 and its 200-day simple moving average is $51.22.

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

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 27th. Flowserve’s dividend payout ratio (DPR) is presently 38.01%.

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.