Flowserve Corporation $FLS Shares Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd increased its holdings in Flowserve Corporation by 259.6% in the first quarter, bringing their total investment to $986,000.
• Analysts have revised their ratings and target prices for Flowserve, with Goldman Sachs raising their target from $54 to $60 and Citigroup from $58 to $65.
• Flowserve announced a quarterly dividend of $0.21 per share, representing an annual yield of 1.5%, with the ex-dividend date set for September 26th.

Dynamic Technology Lab Private Ltd raised its position in Flowserve Corporation (NYSE:FLS - Free Report) by 259.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,193 shares of the industrial products company's stock after acquiring an additional 14,578 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Flowserve were worth $986,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FLS. Principal Financial Group Inc. boosted its stake in shares of Flowserve by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company's stock valued at $14,763,000 after buying an additional 1,103 shares during the period. KBC Group NV boosted its stake in shares of Flowserve by 4.8% in the 1st quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock valued at $277,000 after buying an additional 258 shares during the period. GAMMA Investing LLC boosted its stake in shares of Flowserve by 26.6% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock valued at $112,000 after buying an additional 481 shares during the period. Johnson Investment Counsel Inc. purchased a new position in shares of Flowserve in the 1st quarter valued at about $216,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Flowserve by 453.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company's stock valued at $8,402,000 after buying an additional 139,939 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FLS shares. The Goldman Sachs Group lifted their price objective on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Mizuho set a $60.00 price objective on Flowserve in a research note on Friday, May 16th. Wall Street Zen cut Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Citigroup boosted their target price on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $65.78.

Insider Buying and Selling

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the transaction, the insider owned 37,196 shares of the company's stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

Flowserve Stock Down 0.6%

FLS stock traded down $0.36 during trading on Friday, hitting $56.30. 1,480,516 shares of the company's stock were exchanged, compared to its average volume of 1,479,548. The business has a 50-day moving average price of $54.02 and a two-hundred day moving average price of $50.09. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 1.16 and a beta of 1.29. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63.

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 for the quarter, topping the consensus estimate 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%. As a group, equities research analysts expect that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

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

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.