13,016 Shares in Flowserve Co. (NYSE:FLS) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in Flowserve Co. (NYSE:FLS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,016 shares of the industrial products company’s stock, valued at approximately $609,000.

A number of other large investors have also recently modified their holdings of FLS. Signaturefd LLC raised its position in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after buying an additional 370 shares in the last quarter. nVerses Capital LLC bought a new position in Flowserve during the second quarter valued at approximately $34,000. GAMMA Investing LLC lifted its holdings in shares of Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 616 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flowserve in the 2nd quarter valued at $70,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Flowserve during the 1st quarter valued at $87,000. Institutional investors own 93.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank of Canada upped their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” 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 company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Bank of America reiterated a “buy” rating and set a $60.00 target price on shares of Flowserve in a report on Tuesday, September 24th. Finally, StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.33.

Flowserve Stock Performance

Flowserve stock opened at $55.33 on Tuesday. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $55.37. 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 company has a market capitalization of $7.28 billion, a P/E ratio of 31.26, a PEG ratio of 1.27 and a beta of 1.39. The stock’s 50 day moving average is $48.96 and its 200 day moving average is $48.42.

Flowserve (NYSE:FLS) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s 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.