Flowserve Co. (NYSE:FLS) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC decreased its position in shares of Flowserve Co. (NYSE:FLS) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,221 shares of the industrial products company’s stock after selling 665 shares during the quarter. Inspire Advisors LLC’s holdings in Flowserve were worth $203,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FLS. Vanguard Group Inc. lifted its stake in Flowserve by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after acquiring an additional 144,704 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Flowserve by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock valued at $82,595,000 after purchasing an additional 157,125 shares during the last quarter. Norges Bank acquired a new stake in Flowserve during the 4th quarter worth about $59,261,000. Gabelli Funds LLC raised its stake in shares of Flowserve by 1.3% during the 1st quarter. Gabelli Funds LLC now owns 1,283,016 shares of the industrial products company’s stock valued at $58,608,000 after buying an additional 16,500 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Flowserve by 1.6% in the 4th quarter. Brown Advisory Inc. now owns 1,159,796 shares of the industrial products company’s stock valued at $47,807,000 after buying an additional 18,310 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Stock Up 1.0 %

Shares of NYSE FLS opened at $46.65 on Monday. The stock has a market cap of $6.13 billion, a PE ratio of 26.36, a P/E/G ratio of 1.09 and a beta of 1.39. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $52.09. The company has a 50-day moving average of $47.97 and a 200 day moving average of $47.31.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. Flowserve’s dividend payout ratio is presently 47.46%.

Analyst Ratings Changes

Several brokerages recently weighed in on FLS. TD Cowen lifted their price target on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America boosted their target price on shares of Flowserve from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird raised their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus increased their target price on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.11.

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.