Amundi Has $7.97 Million Holdings in Flowserve Corporation $FLS

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 raised its position in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 29.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,130 shares of the industrial products company's stock after purchasing an additional 36,773 shares during the period. Amundi owned 0.12% of Flowserve worth $7,967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC raised its stake in shares of Flowserve by 54.4% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 5,597 shares of the industrial products company's stock worth $273,000 after purchasing an additional 1,973 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Flowserve by 135.6% during the 1st quarter. Royal Bank of Canada now owns 349,917 shares of the industrial products company's stock worth $17,089,000 after purchasing an additional 201,420 shares in the last quarter. Quarry LP raised its stake in shares of Flowserve by 68.3% during the 1st quarter. Quarry LP now owns 2,550 shares of the industrial products company's stock worth $125,000 after purchasing an additional 1,035 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of Flowserve during the 1st quarter worth about $12,452,000. Finally, State of Wyoming raised its stake in shares of Flowserve by 10.8% during the 1st quarter. State of Wyoming now owns 6,994 shares of the industrial products company's stock worth $342,000 after purchasing an additional 679 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider owned 37,196 shares of the company's stock, valued at $1,979,571.12. This trade represents a 21.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FLS shares. Royal Bank Of Canada raised their price objective on 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 price objective on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Citigroup raised their price objective on Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wall Street Zen downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Stifel Nicolaus raised their price objective on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $65.78.

Flowserve Stock Performance

FLS traded up $0.30 during midday trading on Monday, reaching $56.56. The company's stock had a trading volume of 2,856,478 shares, compared to its average volume of 1,501,919. The stock has a market cap of $7.40 billion, a P/E ratio of 25.59, a PEG ratio of 1.15 and a beta of 1.29. The company has a fifty day simple moving average of $54.10 and a 200 day simple moving average of $50.07. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. Research analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. Flowserve's dividend payout ratio (DPR) is 38.01%.

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.