United Services Automobile Association Purchases Shares of 8,742 Flowserve Corporation $FLS

Key Points

• United Services Automobile Association has invested approximately $426,000 in Flowserve Corporation by acquiring 8,742 shares during the 1st quarter.
• Analysts have issued various ratings on Flowserve, with Goldman Sachs increasing its price target from $54.00 to $60.00 and Citigroup raising it from $58.00 to $65.00, indicating a generally positive outlook.
• Flowserve recently announced a quarterly dividend of $0.21 per share, with a total annualized dividend yield of 1.5%, highlighting a solid return for shareholders.

United Services Automobile Association acquired a new stake in Flowserve Corporation (NYSE:FLS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,742 shares of the industrial products company's stock, valued at approximately $426,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Great Lakes Advisors LLC purchased a new position in shares of Flowserve in the 1st quarter valued at about $3,336,000. Caxton Associates LLP purchased a new stake in shares of Flowserve in the first quarter valued at approximately $550,000. Goldman Sachs Group Inc. grew its position in shares of Flowserve by 48.2% in the first quarter. Goldman Sachs Group Inc. now owns 471,893 shares of the industrial products company's stock valued at $23,047,000 after purchasing an additional 153,553 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Flowserve by 259.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,193 shares of the industrial products company's stock valued at $986,000 after acquiring an additional 14,578 shares during the last quarter. Finally, Paradoxiom Capital L.P. lifted its stake in Flowserve by 22.3% during the first quarter. Paradoxiom Capital L.P. now owns 194,751 shares of the industrial products company's stock worth $9,512,000 after purchasing an additional 35,545 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Price Performance

Shares of FLS stock traded down $1.09 during midday trading on Tuesday, reaching $55.42. 419,742 shares of the company traded hands, compared to its average volume of 2,025,677. 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 1-year low of $37.34 and a 1-year high of $65.08. The firm has a market cap of $7.25 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.29. The firm's 50 day simple moving average is $54.10 and its two-hundred day simple moving average is $50.07.

Flowserve (NYSE:FLS - Get Free Report) last issued 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 firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, equities research analysts expect that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, September 26th. Flowserve's payout ratio is currently 38.01%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FLS. The Goldman Sachs Group increased their price objective on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Stifel Nicolaus raised their price objective on Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wall Street Zen lowered Flowserve from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Royal Bank Of Canada raised their price target on Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Citigroup raised their price target on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $65.78.

Insider Activity

In related news, insider Kirk Wilson sold 10,000 shares of Flowserve 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 completion of the transaction, the insider directly owned 37,196 shares in the company, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

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.