Flowserve Co. (NYSE:FLS) Shares Bought by Raymond James & Associates

Raymond James & Associates lifted its position in shares of Flowserve Co. (NYSE:FLS) by 4.3% in the 3rd quarter, Holdings Channel reports. The fund owned 321,277 shares of the industrial products company’s stock after buying an additional 13,258 shares during the period. Raymond James & Associates’ holdings in Flowserve were worth $16,607,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Flowserve in the 3rd quarter worth approximately $27,000. nVerses Capital LLC grew its stake in shares of Flowserve by 1,142.9% in the third quarter. nVerses Capital LLC now owns 8,700 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 8,000 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Flowserve by 2.3% during the third quarter. Vontobel Holding Ltd. now owns 29,245 shares of the industrial products company’s stock valued at $1,512,000 after purchasing an additional 649 shares during the period. Michael S. Ryan Inc. acquired a new position in shares of Flowserve during the third quarter valued at $413,000. Finally, Creative Planning raised its stake in shares of Flowserve by 6.9% during the third quarter. Creative Planning now owns 6,879 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 444 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of FLS stock opened at $52.66 on Friday. The stock’s fifty day simple moving average is $50.36 and its 200-day simple moving average is $48.84. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 29.75, a P/E/G ratio of 1.27 and a beta of 1.39. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. Flowserve Co. has a 1-year low of $35.52 and a 1-year high of $55.90.

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

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Cowen raised their target price on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Mizuho upped their price objective on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Bank of America restated a “buy” rating and set a $60.00 price objective on shares of Flowserve in a research report on Tuesday, September 24th. Finally, Robert W. Baird boosted their target price on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $58.50.

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.