Oppenheimer Asset Management Inc. Increases Holdings in Flowserve Co. (NYSE:FLS)

Oppenheimer Asset Management Inc. boosted its position in Flowserve Co. (NYSE:FLS) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,869 shares of the industrial products company’s stock after purchasing an additional 4,485 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Flowserve were worth $2,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in FLS. BNP Paribas Financial Markets grew its position in Flowserve by 937.3% in the fourth quarter. BNP Paribas Financial Markets now owns 65,756 shares of the industrial products company’s stock worth $2,710,000 after acquiring an additional 59,417 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Flowserve by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock worth $82,595,000 after purchasing an additional 157,125 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Flowserve by 9.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,352 shares of the industrial products company’s stock valued at $468,000 after buying an additional 937 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Flowserve by 13.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,458 shares of the industrial products company’s stock worth $1,214,000 after buying an additional 3,558 shares during the last quarter. Finally, Norges Bank purchased a new stake in Flowserve in the fourth quarter worth approximately $59,261,000. Institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird lifted 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. Bank of America upped their price target 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. TD Cowen boosted their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada lifted 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.11.

Flowserve Trading Up 1.0 %

NYSE:FLS opened at $47.16 on Wednesday. The company has a 50-day moving average price of $47.97 and a 200-day moving average price of $47.38. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.09 and a beta of 1.39. 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 Co. has a 12 month low of $35.31 and a 12 month high of $52.09.

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, beating the consensus estimate of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The business 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 firm posted $0.52 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Flowserve Co. will post 2.76 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve’s dividend payout ratio 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.