Brown Advisory Inc. Sells 533,848 Shares of Flowserve Corporation (NYSE:FLS)

Brown Advisory Inc. lowered its holdings in Flowserve Corporation (NYSE:FLS - Free Report) by 95.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,612 shares of the industrial products company's stock after selling 533,848 shares during the period. Brown Advisory Inc.'s holdings in Flowserve were worth $1,251,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC grew its stake in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 479 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Flowserve during the fourth quarter valued at approximately $33,000. Colonial Trust Co SC grew its stake in Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 478 shares in the last quarter. True Wealth Design LLC grew its stake in Flowserve by 80.1% in the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after buying an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Trading Up 2.0%

NYSE:FLS traded up $1.06 during midday trading on Thursday, reaching $54.85. 1,748,956 shares of the stock traded hands, compared to its average volume of 1,611,323. The company has a fifty day moving average of $50.40 and a 200 day moving average of $52.02. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $65.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07. The stock has a market capitalization of $7.17 billion, a P/E ratio of 25.63, a PEG ratio of 1.19 and a beta of 1.25.

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

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. Flowserve's dividend payout ratio is currently 39.25%.

Analysts Set New Price Targets

A number of research firms have commented on FLS. Royal Bank Of Canada boosted their price target 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. The Goldman Sachs Group boosted their price target 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. Mizuho set a $60.00 price target on shares of Flowserve in a research note on Friday, May 16th. Stifel Nicolaus boosted their price target on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird cut their price objective 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. One investment 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.com, the company has a consensus rating of "Buy" and a consensus price target of $63.00.

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.