Deprince Race & Zollo Inc. Sells 242,848 Shares of Flowserve Co. (NYSE:FLS)

Deprince Race & Zollo Inc. lowered its position in shares of Flowserve Co. (NYSE:FLS) by 13.5% in the second quarter, Holdings Channel reports. The institutional investor owned 1,552,807 shares of the industrial products company’s stock after selling 242,848 shares during the period. Flowserve makes up about 1.7% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 2nd largest position. Deprince Race & Zollo Inc.’s holdings in Flowserve were worth $74,690,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Flowserve during the second quarter worth $34,000. YHB Investment Advisors Inc. bought a new position in shares of Flowserve in the 1st quarter valued at $36,000. GAMMA Investing LLC boosted its holdings in shares of Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 616 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its position in Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 596 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on FLS. Robert W. Baird increased their target price on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report 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. Stifel Nicolaus boosted their target price on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and set a $60.00 price target on shares of Flowserve in a research note on Tuesday. Finally, Royal Bank of Canada boosted their price objective 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 investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.11.

Flowserve Price Performance

Shares of NYSE FLS opened at $52.16 on Thursday. The company has a market capitalization of $6.85 billion, a PE ratio of 29.47, a P/E/G ratio of 1.16 and a beta of 1.39. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $53.86. The firm has a fifty day simple moving average of $47.98 and a 200 day simple moving average of $47.65.

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 return on equity of 16.74% and a net margin of 5.67%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $0.52 EPS. The business’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 Announces Dividend

The firm 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 dividend yield of 1.61%. The ex-dividend date is Friday, September 27th. Flowserve’s payout ratio is 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.