LPL Financial LLC increased its holdings in shares of Flowserve Corporation (NYSE:FLS – Free Report) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,081 shares of the industrial products company’s stock after purchasing an additional 3,562 shares during the quarter. LPL Financial LLC’s holdings in Flowserve were worth $3,423,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Flowserve by 9.7% in the fourth quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company’s stock valued at $168,272,000 after purchasing an additional 258,361 shares during the period. Dimensional Fund Advisors LP grew its stake in Flowserve by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company’s stock worth $136,213,000 after buying an additional 38,340 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Flowserve by 6.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,954,365 shares of the industrial products company’s stock worth $95,451,000 after buying an additional 122,161 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Flowserve by 307.1% in the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company’s stock valued at $108,651,000 after purchasing an additional 1,424,948 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of Flowserve by 57.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company’s stock valued at $82,859,000 after purchasing an additional 527,250 shares in the last quarter. 93.93% of the stock is owned by institutional investors.
Flowserve Stock Performance
NYSE FLS opened at $52.70 on Friday. The company has a fifty day simple moving average of $52.07 and a 200 day simple moving average of $51.07. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $65.08. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. The company has a market cap of $6.89 billion, a P/E ratio of 23.85, a PEG ratio of 1.10 and a beta of 1.28.
Flowserve Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve’s payout ratio is currently 38.01%.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 14th. Robert W. Baird dropped their price objective on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Mizuho set a $60.00 price target on shares of Flowserve in a report on Friday, May 16th. Stifel Nicolaus raised their price target on shares of Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group raised their price target on shares of Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Flowserve has an average rating of “Buy” and a consensus price target of $65.78.
Read Our Latest Stock Analysis on Flowserve
Insider Transactions at Flowserve
In other Flowserve news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the transaction, the insider directly owned 37,196 shares of the company’s stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by corporate insiders.
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.
Further Reading
- Five stocks we like better than Flowserve
- Airline Stocks – Top Airline Stocks to Buy Now
- 3 Restaurant Stocks That Will Outperform in Q3 and Q4
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- The Midstream Energy Play That Keeps Powering Higher
- What Do S&P 500 Stocks Tell Investors About the Market?
- Ethereum Near All-Time High: 3 Stocks Stacking ETH in Treasuries
Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Corporation (NYSE:FLS – Free Report).
Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.