Inspire Investing LLC Acquires 7,113 Shares of Flowserve Co. (NYSE:FLS)

Inspire Investing LLC lifted its holdings in Flowserve Co. (NYSE:FLS) by 18.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,812 shares of the industrial products company’s stock after purchasing an additional 7,113 shares during the quarter. Inspire Investing LLC’s holdings in Flowserve were worth $2,204,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FLS. Norges Bank bought a new stake in Flowserve during the fourth quarter worth $59,261,000. Silvercrest Asset Management Group LLC bought a new stake in Flowserve during the first quarter worth $41,413,000. Vaughan Nelson Investment Management L.P. bought a new stake in Flowserve during the second quarter worth $37,100,000. Wealth Enhancement Advisory Services LLC raised its position in Flowserve by 5,256.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after acquiring an additional 600,866 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Flowserve during the fourth quarter worth $22,321,000. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price target on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. TD Cowen increased their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America increased their price objective on shares of Flowserve from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.11.

Flowserve Trading Down 0.6 %

FLS stock opened at $46.86 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The company’s 50-day simple moving average is $47.98 and its 200 day simple moving average is $47.41. Flowserve Co. has a 52 week low of $35.31 and a 52 week high of $52.09. The company has a market capitalization of $6.17 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 1.09 and a beta of 1.39.

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

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 1.79%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

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.