Cerity Partners LLC Buys 5,251 Shares of Flowserve Corporation (NYSE:FLS)

Cerity Partners LLC lifted its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,555 shares of the industrial products company's stock after purchasing an additional 5,251 shares during the period. Cerity Partners LLC owned approximately 0.05% of Flowserve worth $3,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FLS. Headlands Technologies LLC grew its holdings in shares of 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 buying an additional 479 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Flowserve during the fourth quarter valued at $33,000. Colonial Trust Co SC grew its stake in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 478 shares in the last quarter. True Wealth Design LLC grew its stake in Flowserve by 80.1% in 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, Quadrant Capital Group LLC grew its stake in Flowserve by 34.6% in the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 275 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Citigroup upped their price target on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Mizuho set a $60.00 price objective on Flowserve in a research report on Friday, May 16th. Stifel Nicolaus boosted their price objective on Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada boosted their price objective on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Robert W. Baird cut their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $63.00.

Flowserve Trading Up 0.0%

FLS traded up $0.01 during mid-day trading on Friday, reaching $54.76. The stock had a trading volume of 1,578,000 shares, compared to its average volume of 1,617,150. The stock has a market capitalization of $7.16 billion, a P/E ratio of 25.59, a P/E/G ratio of 1.21 and a beta of 1.25. 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 firm's fifty day simple moving average is $50.54 and its two-hundred day simple moving average is $51.97. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 EPS. On average, equities analysts predict 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. Investors of record on Friday, June 27th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Friday, June 27th. Flowserve's payout ratio is presently 39.25%.

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.