Flowserve Co. (NYSE:FLS) Stake Decreased by Dorsey Wright & Associates

Dorsey Wright & Associates lessened its holdings in shares of Flowserve Co. (NYSE:FLS) by 20.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,555 shares of the industrial products company’s stock after selling 1,392 shares during the period. Dorsey Wright & Associates’ holdings in Flowserve were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Flowserve by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after buying an additional 144,704 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after buying an additional 663,631 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Flowserve by 4.8% during the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after buying an additional 121,873 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after buying an additional 1,596,429 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Flowserve by 3.4% during the second quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock valued at $123,112,000 after buying an additional 83,868 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 1.8 %

Flowserve stock opened at $51.37 on Friday. 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 firm has a market cap of $6.76 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39. Flowserve Co. has a 1 year low of $35.31 and a 1 year high of $53.86. The firm’s 50 day moving average price is $48.06 and its two-hundred day moving average price is $47.74.

Flowserve (NYSE:FLS) last posted its quarterly earnings data 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 net margin of 5.67% and a return on equity of 16.74%. The firm 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 company posted $0.52 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve’s payout ratio is 47.46%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FLS shares. Stifel Nicolaus boosted their target price on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $60.00 target price on shares of Flowserve in a report on Tuesday. Robert W. Baird boosted their target price on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.88.

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.