Dover Advisors LLC Purchases Shares of 8,442 Flowserve Corporation $FLS

Key Points

• Dover Advisors LLC has acquired a new stake in Flowserve Corporation, purchasing 8,442 shares valued at approximately $442,000.
• Flowserve's stock has seen significant interest from institutional investors, with 93.93% of shares owned by such entities, while corporate insiders own 0.72%.
• Flowserve recently announced a quarterly dividend of $0.21 per share, with an expected annualized dividend of $0.84 and a dividend yield of 1.5%.

Dover Advisors LLC purchased a new stake in Flowserve Corporation (NYSE:FLS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,442 shares of the industrial products company's stock, valued at approximately $442,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of FLS. Park Square Financial Group LLC acquired a new stake in Flowserve during the 4th quarter worth about $33,000. Parallel Advisors LLC raised its holdings in Flowserve by 74.5% during the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company's stock worth $42,000 after buying an additional 344 shares during the period. Signaturefd LLC raised its holdings in Flowserve by 71.5% during the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock worth $50,000 after buying an additional 429 shares during the period. Strengthening Families & Communities LLC acquired a new stake in Flowserve during the 1st quarter worth about $53,000. Finally, Brooklyn Investment Group increased its holdings in shares of Flowserve by 47.2% in the 1st quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 349 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of the 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 approximately $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Flowserve Stock Down 0.6%

Shares of Flowserve stock opened at $56.30 on Monday. The stock has a market capitalization of $7.36 billion, a P/E ratio of 25.48, a PEG ratio of 1.15 and a beta of 1.29. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $54.02 and a two-hundred day moving average price of $50.06. Flowserve Corporation has a 12-month low of $37.34 and a 12-month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last announced 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 analysts' expectations of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. Equities analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's dividend payout ratio is currently 38.01%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FLS shares. Royal Bank Of Canada upped their target price on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. The Goldman Sachs Group upped their target price on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Stifel Nicolaus boosted their price target on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Citigroup boosted their price target on Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Wall Street Zen cut Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $65.78.

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.

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