Russell Investments Group Ltd. Decreases Stock Holdings in Flowserve Corporation $FLS

Russell Investments Group Ltd. reduced its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 251,399 shares of the industrial products company's stock after selling 8,187 shares during the period. Russell Investments Group Ltd. owned approximately 0.19% of Flowserve worth $12,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLS. Park Square Financial Group LLC acquired a new stake in Flowserve during the 4th quarter worth about $33,000. Colonial Trust Co SC grew its position in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after purchasing an additional 478 shares during the period. Signaturefd LLC grew its position 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 purchasing an additional 429 shares during the period. True Wealth Design LLC grew its position in Flowserve by 80.1% during the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after purchasing an additional 394 shares during the period. Finally, Strengthening Families & Communities LLC acquired a new stake in Flowserve during the 1st quarter worth about $53,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Price Performance

FLS stock traded up $1.6460 during trading on Friday, hitting $53.6260. The stock had a trading volume of 217,633 shares, compared to its average volume of 2,049,176. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08. The stock has a market capitalization of $7.01 billion, a P/E ratio of 24.30, a PEG ratio of 1.08 and a beta of 1.28. The company's 50-day moving average price is $52.46 and its two-hundred day moving average price is $50.80.

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

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, September 26th. Flowserve's payout ratio is presently 38.01%.

Insider Transactions at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the transaction, the insider directly owned 37,196 shares of the company's stock, valued at $1,979,571.12. This trade represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FLS. Robert W. Baird cut their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Citigroup increased their price target on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Royal Bank Of Canada raised their target price on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Finally, Stifel Nicolaus raised their target price on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Flowserve currently has a consensus rating of "Buy" and an average target price of $65.78.

Flowserve 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.