Blair William & Co. IL Boosts Stake in Flowserve Corporation $FLS

Key Points

• Blair William & Co. IL increased its stake in Flowserve Corporation by 48.5%, now owning 20,061 shares valued at approximately $1,050,000.
• Flowserve has received multiple analyst upgrades, with Goldman Sachs raising the price target from $54 to $60 and several others offering a "buy" or "strong-buy" rating.
• The company announced a quarterly dividend of $0.21 per share, reflecting a yield of 1.7%, with a dividend payout ratio of 38.01%.

Blair William & Co. IL lifted its position in Flowserve Corporation (NYSE:FLS - Free Report) by 48.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,061 shares of the industrial products company's stock after purchasing an additional 6,552 shares during the quarter. Blair William & Co. IL's holdings in Flowserve were worth $1,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLS. Farther Finance Advisors LLC lifted its stake in shares of Flowserve by 10.9% in the 1st quarter. Farther Finance Advisors LLC now owns 3,583 shares of the industrial products company's stock valued at $176,000 after acquiring an additional 351 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Flowserve by 26.6% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 481 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Flowserve by 7.5% in the 1st quarter. Fifth Third Bancorp now owns 8,112 shares of the industrial products company's stock valued at $396,000 after acquiring an additional 567 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Flowserve in the 1st quarter valued at about $318,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Flowserve by 55.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 46,579 shares of the industrial products company's stock valued at $2,275,000 after acquiring an additional 16,524 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of recent analyst reports. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Flowserve in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price target on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Stifel Nicolaus upped their price target on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Citigroup upped their price target on 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 Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $65.78.

Insider Buying and Selling

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction 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 sale, the insider directly owned 37,196 shares in the company, valued at approximately $1,979,571.12. This trade represents a 21.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Flowserve Stock Performance

Shares of FLS opened at $50.60 on Thursday. The business's fifty day simple moving average is $53.77 and its two-hundred day simple moving average is $50.61. 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 12 month low of $37.34 and a 12 month high of $65.08. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.05 and a beta of 1.27.

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

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, September 26th. Flowserve's dividend payout ratio (DPR) is currently 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.

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