Swiss National Bank Cuts Holdings in Flowserve Corporation (NYSE:FLS)

Swiss National Bank decreased its holdings in Flowserve Corporation (NYSE:FLS) by 1.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,500 shares of the industrial products company’s stock after selling 3,900 shares during the period. Swiss National Bank owned about 0.19% of Flowserve worth $12,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FLS. Park Square Financial Group LLC bought a new stake in Flowserve during the fourth quarter valued at about $33,000. Colonial Trust Co SC boosted its holdings in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after buying an additional 478 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Flowserve by 71.5% in the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock valued at $50,000 after buying an additional 429 shares in the last quarter. True Wealth Design LLC grew its position in shares of Flowserve by 80.1% in the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company’s stock worth $51,000 after buying an additional 394 shares during the last quarter. Finally, Tsfg LLC bought a new position in shares of Flowserve during the 1st quarter worth approximately $70,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Mizuho set a $60.00 price target on shares of Flowserve in a report on Friday, May 16th. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. The Goldman Sachs Group increased their price target on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their price target on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Citigroup increased their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 14th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $65.78.

Flowserve Trading Down 1.7%

Shares of FLS stock opened at $53.07 on Friday. The firm has a market capitalization of $6.94 billion, a PE ratio of 24.01, a P/E/G ratio of 1.12 and a beta of 1.28. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The business’s fifty day moving average price is $52.00 and its 200 day moving average price is $51.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The company had revenue of $1.19 billion for 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%. As a group, sell-side analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. Flowserve’s dividend payout ratio (DPR) is presently 38.01%.

Insiders Place Their Bets

In other news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider directly owned 37,196 shares in the company, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.76% of the company’s stock.

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.