Exchange Traded Concepts LLC Has $2.28 Million Stake in Flowserve Corporation (NYSE:FLS)

Exchange Traded Concepts LLC boosted its position in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 55.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 46,579 shares of the industrial products company's stock after purchasing an additional 16,524 shares during the quarter. Exchange Traded Concepts LLC's holdings in Flowserve were worth $2,275,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Flowserve by 0.6% in the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after purchasing an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in shares of Flowserve by 0.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock valued at $1,527,000 after buying an additional 236 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock valued at $62,000 after buying an additional 275 shares during the last quarter. US Bancorp DE raised its position in shares of Flowserve by 5.3% during the fourth quarter. US Bancorp DE now owns 5,722 shares of the industrial products company's stock valued at $329,000 after buying an additional 289 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Flowserve by 4.5% in the fourth quarter. Mariner LLC now owns 6,887 shares of the industrial products company's stock valued at $396,000 after purchasing an additional 294 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Up 0.0%

Shares of FLS stock traded up $0.01 during trading hours on Thursday, hitting $46.42. 2,410,978 shares of the company were exchanged, compared to its average volume of 1,420,899. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $65.08. The firm has a fifty day moving average of $47.17 and a 200 day moving average of $53.05. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $6.07 billion, a PE ratio of 21.69, a PEG ratio of 1.06 and a beta of 1.26.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. Analysts expect that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.81%. Flowserve's payout ratio is presently 39.25%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLS shares. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Wall Street Zen upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Robert W. Baird dropped their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada boosted their price target on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Flowserve presently has an average rating of "Buy" and a consensus price target of $63.00.

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.