Interval Partners LP Boosts Holdings in Flowserve Co. (NYSE:FLS)

Interval Partners LP lifted its stake in shares of Flowserve Co. (NYSE:FLS) by 60.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 927,087 shares of the industrial products company’s stock after buying an additional 348,107 shares during the quarter. Flowserve comprises 1.0% of Interval Partners LP’s portfolio, making the stock its 19th largest position. Interval Partners LP owned approximately 0.70% of Flowserve worth $44,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Flowserve by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after acquiring an additional 144,704 shares during the period. Thrivent Financial for Lutherans grew its stake in Flowserve by 3.4% in the second quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock worth $123,112,000 after purchasing an additional 83,868 shares during the period. Dimensional Fund Advisors LP raised its holdings in Flowserve by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock worth $108,191,000 after purchasing an additional 169,506 shares in the last quarter. Norges Bank purchased a new position in Flowserve during the fourth quarter valued at $59,261,000. Finally, Gabelli Funds LLC boosted its holdings 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 in the last quarter. 93.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Flowserve Price Performance

NYSE FLS opened at $47.90 on Monday. Flowserve Co. has a one year low of $35.31 and a one year high of $52.09. The stock has a 50-day moving average of $47.98 and a 200 day moving average of $47.52. 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 has a market capitalization of $6.31 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.09 and a beta of 1.39.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share 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 firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Flowserve Co. will post 2.76 EPS for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

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.