Flowserve Co. (NYSE:FLS) Holdings Boosted by Quest Partners LLC

Quest Partners LLC boosted its position in shares of Flowserve Co. (NYSE:FLS) by 1,572.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 19,816 shares of the industrial products company’s stock after buying an additional 18,631 shares during the quarter. Quest Partners LLC’s holdings in Flowserve were worth $953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew its position in Flowserve by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 259 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after acquiring an additional 305 shares during the last quarter. Signaturefd LLC increased its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 370 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Flowserve by 7.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after acquiring an additional 426 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Flowserve by 0.3% in the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after acquiring an additional 433 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Trading Down 1.0 %

Shares of NYSE:FLS opened at $45.39 on Wednesday. The stock has a market capitalization of $5.96 billion, a PE ratio of 25.64, a P/E/G ratio of 1.09 and a beta of 1.39. Flowserve Co. has a 1 year low of $35.31 and a 1 year high of $52.09. The firm has a fifty day moving average price of $48.04 and a 200 day moving average price of $47.27. 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 (NYSE:FLS) last issued its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $0.52 earnings per share. Flowserve’s revenue for the quarter was up 7.1% on a year-over-year basis. Analysts expect that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FLS. TD Cowen upped their price target on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America upped their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Robert W. Baird upped their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, 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 note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.11.

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.