Blair William & Co. IL Has $660,000 Stake in Flowserve Corporation (NYSE:FLS)

Key Points

• Blair William & Co. IL increased its stake in Flowserve Corporation by 130.6% in Q1, acquiring an additional 7,650 shares, bringing total holdings to 13,509 shares valued at approximately $660,000.
• Various hedge funds have also raised their positions in Flowserve, with 93.93% of the stock now owned by institutional investors.
• Flowserve's stock has been rated mostly positively, with a consensus rating of "Buy" and a target price of $65.78 from analysts.

Blair William & Co. IL boosted its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 130.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,509 shares of the industrial products company's stock after purchasing an additional 7,650 shares during the quarter. Blair William & Co. IL's holdings in Flowserve were worth $660,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. increased its holdings in Flowserve by 0.9% in the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock valued at $1,378,000 after purchasing an additional 238 shares during the last quarter. KBC Group NV grew its stake in Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock valued at $277,000 after acquiring an additional 258 shares during the period. Xponance Inc. grew its stake in Flowserve by 1.8% in the first quarter. Xponance Inc. now owns 15,407 shares of the industrial products company's stock valued at $752,000 after acquiring an additional 267 shares during the period. Mariner LLC grew its stake in Flowserve by 4.5% in the fourth quarter. Mariner LLC now owns 6,887 shares of the industrial products company's stock valued at $396,000 after acquiring an additional 294 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in Flowserve by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 36,800 shares of the industrial products company's stock valued at $1,797,000 after acquiring an additional 300 shares during the period. Institutional investors own 93.93% of the company's stock.

Insider Activity

In other 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 completion of the sale, the insider directly owned 37,196 shares of the company's stock, valued at $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research analyst reports. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Citigroup boosted their target price on Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Mizuho set a $60.00 target price on Flowserve in a research note on Friday, May 16th. Stifel Nicolaus boosted their target price on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada boosted their target price on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $65.78.

Flowserve Stock Up 2.0%

Shares of FLS stock traded up $1.02 on Tuesday, hitting $53.20. 1,678,689 shares of the stock were exchanged, compared to its average volume of 2,831,733. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The firm has a market capitalization of $6.96 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.09 and a beta of 1.28. 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 business has a 50-day moving average of $51.75 and a 200 day moving average of $51.15.

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, topping 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 analyst estimates of $1.22 billion. Equities analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 27th. Flowserve's dividend payout ratio (DPR) is presently 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.