Flowserve Corporation $FLS Shares Acquired by Sei Investments Co.

Key Points

• Sei Investments increased its Flowserve stake by 13.5% in the first quarter, bringing its holdings to 362,733 shares worth approximately $26.7 million. Institutional investors and hedge funds collectively own 93.93% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and four Holds; Flowserve has a consensus rating of “Moderate Buy” and an average price target of $86.70.
• Flowserve’s latest quarterly results exceeded earnings expectations, with EPS of $0.85 versus the $0.82 consensus, although revenue fell 6.7% year over year to $1.07 billion. The company also pays a quarterly dividend of $0.22 per share, representing a 1.2% yield.

Sei Investments Co. boosted its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 362,733 shares of the industrial products company's stock after purchasing an additional 43,164 shares during the quarter. Sei Investments Co. owned about 0.28% of Flowserve worth $26,665,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of Flowserve by 48.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company's stock valued at $23,047,000 after buying an additional 153,553 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Flowserve in the 2nd quarter worth $313,000. First Trust Advisors LP boosted its holdings in Flowserve by 6.0% in the second quarter. First Trust Advisors LP now owns 134,484 shares of the industrial products company's stock valued at $7,040,000 after acquiring an additional 7,624 shares during the last quarter. Cresset Asset Management LLC grew its position in Flowserve by 24.1% during the second quarter. Cresset Asset Management LLC now owns 14,246 shares of the industrial products company's stock valued at $749,000 after acquiring an additional 2,769 shares during the period. Finally, California Public Employees Retirement System grew its position in Flowserve by 10.5% during the second quarter. California Public Employees Retirement System now owns 232,848 shares of the industrial products company's stock valued at $12,190,000 after acquiring an additional 22,108 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Analyst Ratings Changes

FLS has been the topic of a number of research reports. Citigroup restated a "buy" rating on shares of Flowserve in a report on Thursday, April 30th. Stifel Nicolaus set a $92.00 target price on Flowserve in a report on Friday, May 1st. Jefferies Financial Group reissued a "buy" rating and set a $90.00 target price (down from $100.00) on shares of Flowserve in a research report on Tuesday, March 31st. TD Cowen cut shares of Flowserve from a "buy" rating to a "hold" rating and reduced their price target for the company from $85.00 to $70.00 in a research report on Wednesday, June 24th. Finally, Weiss Ratings downgraded shares of Flowserve from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $86.70.

Flowserve Trading Up 1.1%

Shares of FLS opened at $73.46 on Wednesday. The stock's 50-day moving average is $73.43 and its two-hundred day moving average is $76.90. The stock has a market cap of $9.39 billion, a PE ratio of 27.21, a P/E/G ratio of 1.64 and a beta of 1.23. Flowserve Corporation has a 12 month low of $48.71 and a 12 month high of $92.41. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.22 and a quick ratio of 1.63.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.03. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company's revenue was down 6.7% compared to the same quarter last year. Equities analysts forecast that Flowserve Corporation will post 4.04 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.88 annualized dividend and a yield of 1.2%. Flowserve's payout ratio is 32.59%.

Insiders Place Their Bets

In related news, Director Brian D. Savoy purchased 1,000 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $67,340. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.

Flowserve Company Profile

Flowserve Corporation NYSE: FLS is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve's offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve's product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.

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