20,889 Shares in Flowserve Corporation $FLS Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. acquired a new position in Flowserve Corporation (NYSE:FLS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,889 shares of the industrial products company’s stock, valued at approximately $1,094,000.

Several other hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in Flowserve by 0.4% in the first quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company’s stock worth $14,763,000 after purchasing an additional 1,103 shares during the last quarter. KBC Group NV boosted its position in Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 258 shares during the last quarter. GAMMA Investing LLC boosted its position in Flowserve by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 481 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Flowserve by 453.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company’s stock worth $8,402,000 after purchasing an additional 139,939 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Flowserve by 50.4% in the first quarter. Hsbc Holdings PLC now owns 163,402 shares of the industrial products company’s stock worth $7,915,000 after purchasing an additional 54,771 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. 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. Royal Bank Of Canada boosted their price objective on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Stifel Nicolaus upped their price target on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.88.

Flowserve Stock Performance

Shares of FLS opened at $52.89 on Tuesday. The stock’s 50-day simple moving average is $53.62 and its 200 day simple moving average is $51.15. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08.

Flowserve (NYSE:FLS) last announced its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The business had revenue of $1.19 billion for 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%. Research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, September 26th. Flowserve’s dividend payout ratio is currently 38.01%.

Insiders Place Their Bets

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

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.