Flowserve Corporation (NYSE:FLS) Stock Position Lifted by KBC Group NV

KBC Group NV lifted its holdings in Flowserve Corporation (NYSE:FLS) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,676 shares of the industrial products company’s stock after purchasing an additional 258 shares during the quarter. KBC Group NV’s holdings in Flowserve were worth $277,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Flowserve in the 4th quarter valued at about $930,000. US Bancorp DE boosted its holdings in shares of Flowserve by 5.3% in the fourth quarter. US Bancorp DE now owns 5,722 shares of the industrial products company’s stock valued at $329,000 after acquiring an additional 289 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Flowserve by 85.2% in the fourth quarter. M&T Bank Corp now owns 8,386 shares of the industrial products company’s stock valued at $483,000 after acquiring an additional 3,858 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after acquiring an additional 225 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Flowserve during the fourth quarter worth approximately $14,546,000. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Price Performance

FLS stock opened at $55.29 on Friday. The firm has a 50-day moving average of $49.11 and a two-hundred day moving average of $52.27. The firm has a market capitalization of $7.23 billion, a PE ratio of 25.84, a P/E/G ratio of 1.27 and a beta of 1.25. The company has a current ratio of 2.07, a quick ratio of 1.46 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a one year low of $37.34 and a one year high of $65.08.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.58 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, analysts forecast that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve’s payout ratio is presently 39.25%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FLS. Robert W. Baird lowered their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th. Royal Bank Of Canada raised their price objective on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Finally, Citigroup lowered their price objective on shares of Flowserve from $72.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $63.00.

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.