Petrus Trust Company LTA Acquires 11,672 Shares of Flowserve Corporation $FLS

Key Points

• Petrus Trust Company LTA acquired an additional 11,672 shares of Flowserve Corporation, increasing its holdings by 117.6% to own a total of 21,597 shares valued at $1,055,000 as of the latest SEC filing.
• Multiple institutional investors, including Wellington Management Group and Earnest Partners, have raised their positions in Flowserve during the first quarter, highlighting strong interest among hedge funds, with institutional investors owning 93.93% of the stock.
• Flowserve recently announced a quarterly dividend of $0.21 per share, representing an annualized yield of 1.5%, while reporting earnings per share of $0.91 for the last quarter, exceeding analyst expectations.

Petrus Trust Company LTA boosted its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 117.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,597 shares of the industrial products company's stock after buying an additional 11,672 shares during the period. Petrus Trust Company LTA's holdings in Flowserve were worth $1,055,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Flowserve during the fourth quarter worth $33,000. Colonial Trust Co SC raised its holdings in Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after buying an additional 478 shares during the last quarter. Signaturefd LLC raised its holdings in Flowserve by 71.5% during the first 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 last quarter. Brooklyn Investment Group raised its holdings in Flowserve by 47.2% during the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock worth $53,000 after buying an additional 349 shares during the last quarter. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Flowserve in the first quarter valued at about $53,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Stock Performance

FLS traded up $0.37 during trading on Monday, hitting $55.57. 1,574,733 shares of the company traded hands, compared to its average volume of 1,283,597. The firm has a market cap of $7.27 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.29. The stock's fifty day moving average is $53.86 and its 200 day moving average is $50.02. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a one year low of $37.34 and a one year high of $65.08.

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

Flowserve Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on FLS. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. The Goldman Sachs Group increased their target price on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Citigroup increased their target price on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. Royal Bank Of Canada increased their target price on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Stifel Nicolaus increased their target price on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One equities research 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 stock. According to MarketBeat, Flowserve has a consensus rating of "Buy" and an average target price of $65.78.

Insiders Place Their Bets

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider owned 37,196 shares in the company, valued at $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.72% of the company's stock.

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.