Flowserve Corporation $FLS Shares Purchased by Amundi

Key Points

• Amundi increased its stake in Flowserve Corporation by 29.1%, owning 163,130 shares valued at approximately $7.97 million as of the last quarter.
• Several hedge funds have also modified their positions in Flowserve, with 93.93% of the stock now owned by institutional investors.
• Flowserve recently declared a quarterly dividend of $0.21 per share, with a dividend yield of 1.5%, set to be paid on October 10th.

Amundi increased its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,130 shares of the industrial products company's stock after purchasing an additional 36,773 shares during the period. Amundi owned approximately 0.12% of Flowserve worth $7,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in Flowserve in the 4th quarter worth about $33,000. 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. Strengthening Families & Communities LLC bought a new stake in shares of Flowserve in the 1st quarter valued at about $53,000. Brooklyn Investment Group boosted its holdings in shares of Flowserve by 47.2% in the 1st quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock valued at $53,000 after buying an additional 349 shares in the last quarter. Finally, Tsfg LLC bought a new stake in shares of Flowserve in the 1st quarter valued at about $70,000. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLS. 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. Stifel Nicolaus upped their price objective on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their price target on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. The Goldman Sachs Group raised their target price on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of Flowserve from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $65.78.

Insider Activity at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 37,196 shares of the company's stock, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Flowserve Price Performance

FLS stock traded down $0.36 during trading on Friday, hitting $56.30. The stock had a trading volume of 1,480,516 shares, compared to its average volume of 1,479,548. The company's 50 day moving average price is $54.02 and its two-hundred day moving average price is $50.09. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10.

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

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. Flowserve's dividend payout ratio is currently 38.01%.

Flowserve 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.