Flowserve Corporation (NYSE:FLS) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its position in Flowserve Corporation (NYSE:FLS) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,081 shares of the industrial products company’s stock after purchasing an additional 3,562 shares during the quarter. LPL Financial LLC owned about 0.05% of Flowserve worth $3,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FLS. Advisory Services Network LLC boosted its holdings in Flowserve by 23.4% in the 4th quarter. Advisory Services Network LLC now owns 5,792 shares of the industrial products company’s stock valued at $333,000 after purchasing an additional 1,097 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Flowserve in the 4th quarter valued at about $14,546,000. Sterling Capital Management LLC boosted its holdings in Flowserve by 56.7% in the 4th quarter. Sterling Capital Management LLC now owns 7,846 shares of the industrial products company’s stock valued at $451,000 after purchasing an additional 2,839 shares during the last quarter. Barclays PLC boosted its holdings in Flowserve by 93.6% in the 4th quarter. Barclays PLC now owns 444,007 shares of the industrial products company’s stock valued at $25,540,000 after purchasing an additional 214,628 shares during the last quarter. Finally, Mariner LLC boosted its holdings in Flowserve by 4.5% in the 4th quarter. Mariner LLC now owns 6,887 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 294 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider owned 37,196 shares of the company’s stock, valued at $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by company insiders.

Flowserve Stock Down 0.6%

Shares of NYSE:FLS opened at $52.70 on Friday. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.10 and a beta of 1.28. The firm’s 50-day simple moving average is $52.07 and its 200-day simple moving average is $51.07. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. As a group, equities research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve’s dividend payout ratio is 38.01%.

Analyst Ratings Changes

Several brokerages have recently commented on FLS. The Goldman Sachs Group upped their price objective on shares of Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Robert W. Baird reduced their target price on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Finally, Royal Bank Of Canada increased their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $65.78.

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.