UMB Bank n.a. Has $109,000 Stake in Flowserve Corporation $FLS

UMB Bank n.a. raised its stake in Flowserve Corporation (NYSE:FLS) by 176.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,084 shares of the industrial products company’s stock after purchasing an additional 1,329 shares during the quarter. UMB Bank n.a.’s holdings in Flowserve were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of FLS. Park Square Financial Group LLC purchased a new stake in Flowserve in the 4th quarter valued at $33,000. Parallel Advisors LLC grew its stake in shares of Flowserve by 74.5% in the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 344 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Flowserve by 71.5% in the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 429 shares during the last quarter. Strengthening Families & Communities LLC bought a new position in shares of Flowserve during the first quarter valued at about $53,000. Finally, Brooklyn Investment Group boosted its holdings in Flowserve by 47.2% during the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FLS shares. Royal Bank Of Canada increased their price objective on shares of Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Wall Street Zen lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group lifted their price target on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Citigroup boosted their price objective on Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus raised their target price on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Flowserve presently has a consensus rating of “Buy” and a consensus price target of $65.78.

Insider Buying and Selling

In related news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the transaction, the insider directly owned 37,196 shares in the company, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company’s stock.

Flowserve Stock Down 1.9%

Shares of NYSE FLS opened at $55.36 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. The stock has a market capitalization of $7.24 billion, a PE ratio of 25.05, a P/E/G ratio of 1.15 and a beta of 1.29. Flowserve Corporation has a one year low of $37.34 and a one year high of $65.08. The business’s fifty day moving average price is $54.52 and its 200-day moving average price is $50.38.

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

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, September 26th. Flowserve’s dividend payout ratio is presently 38.01%.

About Flowserve

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.