Flowserve Co. (NYSE:FLS) Stock Position Lifted by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc boosted its stake in Flowserve Co. (NYSE:FLS) by 18.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,284 shares of the industrial products company’s stock after buying an additional 7,215 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Flowserve were worth $2,274,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Silvercrest Asset Management Group LLC acquired a new stake in Flowserve during the first quarter valued at $41,413,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Flowserve during the 2nd quarter valued at about $37,100,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Flowserve by 5,256.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after buying an additional 600,866 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in Flowserve in the fourth quarter worth approximately $22,321,000. Finally, Interval Partners LP raised its position in Flowserve by 158.7% during the first quarter. Interval Partners LP now owns 578,980 shares of the industrial products company’s stock valued at $26,448,000 after acquiring an additional 355,140 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FLS. Bank of America reissued a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research report on Tuesday. Robert W. Baird increased their target price on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. TD Cowen boosted their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price objective on Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve currently has a consensus rating of “Moderate Buy” and an average target price of $56.88.

Flowserve Stock Down 1.8 %

Shares of FLS stock opened at $51.37 on Friday. Flowserve Co. has a 12 month low of $35.31 and a 12 month high of $53.86. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.76 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39. The stock has a 50 day moving average of $48.06 and a 200-day moving average of $47.74.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.52 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts predict that Flowserve Co. will post 2.76 EPS for the current year.

Flowserve Dividend Announcement

The company 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 dividend of $0.21 per share. The ex-dividend date is Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.64%. Flowserve’s dividend payout ratio is 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.