Dimensional Fund Advisors LP Grows Stock Position in Flowserve Corporation $FLS

Key Points

• Dimensional Fund Advisors LP increased its holdings in Flowserve Corporation by 3.2%, owning approximately 2,443,456 shares valued at $119.3 million, indicating growing institutional interest in the company.
• Flowserve announced a quarterly dividend of $0.21 per share, with a dividend yield of 1.6%, reflecting the firm's commitment to returning value to shareholders.
• The company reported a strong quarterly earnings of $0.91 per share, exceeding analysts' expectations of $0.78, alongside a revenue of $1.19 billion, slightly below estimates.

Dimensional Fund Advisors LP increased its position in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,443,456 shares of the industrial products company's stock after purchasing an additional 75,374 shares during the period. Dimensional Fund Advisors LP owned 1.87% of Flowserve worth $119,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fox Run Management L.L.C. increased its stake in Flowserve by 27.3% in the first quarter. Fox Run Management L.L.C. now owns 5,472 shares of the industrial products company's stock valued at $267,000 after purchasing an additional 1,172 shares during the period. Sit Investment Associates Inc. purchased a new stake in Flowserve during the first quarter worth about $6,348,000. Varenne Capital Partners increased its holdings in Flowserve by 5.6% during the 1st quarter. Varenne Capital Partners now owns 481,408 shares of the industrial products company's stock valued at $23,512,000 after acquiring an additional 25,631 shares in the last quarter. Nuveen LLC purchased a new position in Flowserve during the 1st quarter valued at about $111,598,000. Finally, Aigen Investment Management LP purchased a new position in Flowserve during the 1st quarter valued at about $829,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FLS. Mizuho set a $60.00 price target on shares of Flowserve in a research note on Friday, May 16th. Citigroup raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus raised their target price on shares of Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Flowserve has an average rating of "Buy" and an average target price of $65.78.

Insider Transactions at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares of the company's stock, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.

Flowserve Trading Down 0.8%

Shares of FLS traded down $0.4390 during mid-day trading on Monday, hitting $53.1110. The company had a trading volume of 1,309,163 shares, compared to its average volume of 2,521,417. The business's 50-day simple moving average is $52.72 and its 200-day simple moving average is $50.49. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The stock has a market cap of $6.95 billion, a PE ratio of 24.03, a P/E/G ratio of 1.11 and a beta of 1.28.

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

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's dividend payout ratio is 38.01%.

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.