Flowserve Corporation (NYSE:FLS) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. lowered its position in Flowserve Corporation (NYSE:FLS - Free Report) by 95.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC raised its position 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 purchasing an additional 479 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Flowserve in the 4th quarter worth about $33,000. Colonial Trust Co SC raised its position in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after purchasing an additional 478 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Flowserve by 80.1% during the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Stock Performance

FLS stock traded down $0.65 during trading on Monday, hitting $52.97. The company had a trading volume of 2,416,101 shares, compared to its average volume of 1,995,768. The firm has a market cap of $6.92 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The firm has a 50-day moving average price of $49.89 and a 200-day moving average price of $52.06.

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

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were given a dividend of $0.21 per share. The ex-dividend date was Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.59%. Flowserve's payout ratio is currently 39.25%.

Analysts Set New Price Targets

FLS has been the topic of a number of research analyst reports. Citigroup boosted their price target on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Monday. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Royal Bank Of Canada raised their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Mizuho set a $60.00 price target on Flowserve in a research report on Friday, May 16th. 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. Based on data from MarketBeat, Flowserve currently has a consensus rating of "Buy" and an average price target of $63.00.

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.