Comprehensive Money Management Services LLC Grows Stock Holdings in Flowserve Corporation $FLS

Comprehensive Money Management Services LLC boosted its holdings in Flowserve Corporation (NYSE:FLS) by 18.3% in the second quarter, Holdings Channel reports. The institutional investor owned 7,282 shares of the industrial products company’s stock after acquiring an additional 1,125 shares during the quarter. Comprehensive Money Management Services LLC’s holdings in Flowserve were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. TD Private Client Wealth LLC purchased a new position in Flowserve in the 2nd quarter valued at approximately $25,000. Hilltop National Bank purchased a new position in shares of Flowserve during the 2nd quarter valued at $31,000. IFP Advisors Inc grew its position in shares of Flowserve by 1,289.6% during the 2nd quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 619 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Flowserve by 74.5% during the 2nd quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 344 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Flowserve by 71.5% during the 1st 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 in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Down 4.8%

FLS opened at $49.10 on Friday. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The business has a 50-day moving average of $53.97 and a 200-day moving average of $50.60. 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 company has a market capitalization of $6.42 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.27.

Flowserve (NYSE:FLS) last posted its quarterly 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. Flowserve had a return on equity of 18.25% and a net margin of 6.28%.The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Equities research analysts forecast that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.7%. Flowserve’s dividend payout ratio (DPR) is 38.01%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FLS. Stifel Nicolaus boosted their price target on shares of Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a report on Wednesday. Citigroup lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 14th. The Goldman Sachs Group lifted 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. Finally, Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $65.78.

Insider Buying and Selling at Flowserve

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