Vaughan Nelson Investment Management L.P. Raises Stock Holdings in Flowserve Corporation $FLS

Key Points

• Vaughan Nelson Investment Management L.P. increased its stake in Flowserve Corporation by 34.3%, owning a total of 501,125 shares valued at approximately $26.2 million as of the end of Q2.
• Flowserve recently declared a quarterly dividend of $0.21 per share, translating to an annualized yield of 1.6% and a payout ratio of 38.01%.
• Analysts have been bullish on Flowserve, with several increasing their target price, highlighting ratings shifts such as from "buy" to "strong-buy," indicating positive sentiment for its future performance.

Vaughan Nelson Investment Management L.P. grew its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 34.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 501,125 shares of the industrial products company's stock after acquiring an additional 128,100 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.38% of Flowserve worth $26,234,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FLS. GAMMA Investing LLC boosted its holdings in Flowserve by 6,084.1% in the first quarter. GAMMA Investing LLC now owns 111,746 shares of the industrial products company's stock worth $5,458,000 after acquiring an additional 109,939 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Flowserve by 25.8% in the first quarter. Merit Financial Group LLC now owns 13,408 shares of the industrial products company's stock worth $655,000 after acquiring an additional 2,752 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Flowserve by 10.9% in the first quarter. Farther Finance Advisors LLC now owns 3,583 shares of the industrial products company's stock worth $176,000 after acquiring an additional 351 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in Flowserve by 12.6% in the first quarter. Pallas Capital Advisors LLC now owns 22,639 shares of the industrial products company's stock worth $1,106,000 after acquiring an additional 2,533 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Flowserve by 7.5% in the first quarter. Fifth Third Bancorp now owns 8,112 shares of the industrial products company's stock worth $396,000 after acquiring an additional 567 shares in the last quarter. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 0.2%

Flowserve stock opened at $52.78 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. The stock has a fifty day moving average of $54.35 and a 200 day moving average of $50.60. The stock has a market cap of $6.90 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. 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 issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. As a group, sell-side analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 1.6%. Flowserve's dividend payout ratio is presently 38.01%.

Analyst Ratings Changes

Several equities research analysts have commented on FLS shares. Stifel Nicolaus boosted their target price on Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Royal Bank Of Canada boosted their price target on Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Citigroup boosted their price target on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Friday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Flowserve in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $65.78.

Insider Buying and Selling

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the sale, the insider owned 37,196 shares in the company, valued at $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.

About Flowserve

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.

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