4,667 Shares in Flowserve Corporation (NYSE:FLS) Bought by Lbp Am Sa

LBP AM SA bought a new position in shares of Flowserve Corporation (NYSE:FLS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,667 shares of the industrial products company's stock, valued at approximately $228,000.

Other institutional investors have also recently added to or reduced their stakes in the company. FIL Ltd lifted its position in shares of Flowserve by 71.7% during the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after acquiring an additional 2,193,904 shares during the period. Norges Bank acquired a new position in shares of Flowserve during the 4th quarter valued at $94,629,000. Driehaus Capital Management LLC lifted its position in shares of Flowserve by 307.1% during 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 acquiring an additional 1,424,948 shares during the period. Invesco Ltd. increased its stake in Flowserve by 52.7% during the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock valued at $118,953,000 after purchasing an additional 714,063 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Flowserve by 57.7% during 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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLS. Robert W. Baird decreased their price target on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Royal Bank Of Canada upped their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Citigroup upped their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday. Finally, 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 note on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $63.00.

Flowserve Price Performance

Shares of Flowserve stock traded down $0.27 on Tuesday, reaching $52.70. The stock had a trading volume of 1,403,557 shares, compared to its average volume of 1,598,190. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $65.08. The company has a market cap of $6.89 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. The business's 50 day moving average is $49.89 and its two-hundred day moving average is $52.06.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. Flowserve's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. As a group, research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, June 27th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

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.