Flowserve Co. (NYSE:FLS) Shares Sold by Beck Bode LLC

Beck Bode LLC decreased its stake in Flowserve Co. (NYSE:FLS) by 48.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,487 shares of the industrial products company’s stock after selling 36,733 shares during the quarter. Beck Bode LLC’s holdings in Flowserve were worth $1,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Eaton Financial Holdings Company LLC bought a new position in shares of Flowserve in the 4th quarter valued at approximately $2,169,000. RBA Wealth Management LLC acquired a new stake in shares of Flowserve during the 1st quarter worth about $3,112,000. Susquehanna Fundamental Investments LLC bought a new stake in Flowserve during the 1st quarter worth approximately $3,808,000. Hennessy Advisors Inc. raised its holdings in shares of Flowserve by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 617,900 shares of the industrial products company’s stock valued at $28,226,000 after buying an additional 76,400 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Flowserve by 541.1% during the first quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company’s stock worth $20,616,000 after purchasing an additional 350,889 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FLS has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stifel Nicolaus increased their price target on Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. TD Cowen increased their target price on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their target price on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.11.

Flowserve Price Performance

Shares of NYSE FLS opened at $47.16 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $52.09. The firm has a market capitalization of $6.21 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.09 and a beta of 1.39. The stock’s 50-day simple moving average is $47.99 and its two-hundred day simple moving average is $47.41.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. As a group, equities analysts anticipate that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.78%. Flowserve’s dividend payout ratio is 47.46%.

Flowserve 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.