Vaughan Nelson Investment Management L.P. Has $18.22 Million Stock Position in Flowserve Corporation (NYSE:FLS)

Vaughan Nelson Investment Management L.P. trimmed its position in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 32.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 373,025 shares of the industrial products company's stock after selling 182,090 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.28% of Flowserve worth $18,219,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its position in shares of Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares during the period. Park Square Financial Group LLC acquired a new stake in Flowserve during the fourth quarter worth $33,000. Colonial Trust Co SC increased its holdings in Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after buying an additional 478 shares during the period. True Wealth Design LLC raised its stake in shares of Flowserve by 80.1% in the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after buying an additional 394 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Flowserve by 185.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after acquiring an additional 595 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Price Performance

FLS stock traded down $0.91 during midday trading on Tuesday, reaching $46.42. 2,047,942 shares of the company's stock traded hands, compared to its average volume of 1,413,575. The company has a 50-day simple moving average of $47.00 and a two-hundred day simple moving average of $53.24. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.09 and a beta of 1.26.

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

Flowserve Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FLS. Mizuho set a $60.00 target price on shares of Flowserve in a research report on Friday, May 16th. Royal Bank Of Canada raised their price target on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Citigroup lowered their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Flowserve has an average rating of "Buy" and an average price target of $63.00.

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.