Sivia Capital Partners LLC Makes New $313,000 Investment in Flowserve Corporation $FLS

Key Points

• Sivia Capital Partners LLC acquired 5,979 shares of Flowserve Corporation, valued at approximately $313,000, in the 2nd quarter.
• Flowserve announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 1.5%, with payment scheduled for October 10th.
• The company's recent earnings report indicated a surge in EPS to $0.91, exceeding expectations, and it has a consensus price target of $65.78 among analysts.

Sivia Capital Partners LLC acquired a new stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,979 shares of the industrial products company's stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLS. Wellington Management Group LLP lifted its stake in shares of Flowserve by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company's stock worth $237,185,000 after acquiring an additional 248,273 shares during the period. Earnest Partners LLC lifted its stake in Flowserve by 6.8% during the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company's stock valued at $133,897,000 after purchasing an additional 173,528 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Flowserve by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company's stock valued at $119,332,000 after purchasing an additional 75,374 shares during the last quarter. Nuveen LLC acquired a new stake in Flowserve during the first quarter valued at approximately $111,598,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Flowserve by 6.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,954,365 shares of the industrial products company's stock valued at $95,451,000 after acquiring an additional 122,161 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Price Performance

Shares of FLS stock traded down $1.03 on Friday, reaching $56.67. The company had a trading volume of 3,630,142 shares, compared to its average volume of 1,817,322. The business's 50-day moving average is $54.34 and its 200 day moving average is $50.23. Flowserve Corporation has a one year low of $37.34 and a one year high of $65.08. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $7.41 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.18 and a beta of 1.29.

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

Flowserve Dividend Announcement

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

Insider Activity

In other news, insider Kirk Wilson sold 10,000 shares of the business's 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 directly owned 37,196 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Citigroup raised their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Wall Street Zen lowered shares of Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Royal Bank Of Canada lifted their price target on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lifted their price target on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. 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, the company currently has an average rating of "Buy" and a consensus price target of $65.78.

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.