Flowserve Corporation $FLS Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in Flowserve Corporation (NYSE:FLS) by 572.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 77,424 shares of the industrial products company’s stock after buying an additional 65,914 shares during the quarter. Allianz Asset Management GmbH’s holdings in Flowserve were worth $4,053,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FLS. TD Private Client Wealth LLC acquired a new position in Flowserve in the second quarter valued at $25,000. Hilltop National Bank acquired a new position in Flowserve in the second quarter valued at $31,000. IFP Advisors Inc increased its stake in Flowserve by 1,289.6% in the second 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 during the last quarter. Parallel Advisors LLC increased its stake in Flowserve by 74.5% in the second 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 during the last quarter. Finally, Signaturefd LLC increased its stake in 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. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 owned 37,196 shares in the company, valued at $1,979,571.12. This trade represents a 21.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Flowserve Price Performance

Shares of NYSE FLS opened at $52.73 on Friday. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The business has a 50-day moving average of $53.62 and a 200-day moving average of $50.87. 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 $6.90 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.06 and a beta of 1.27.

Flowserve (NYSE:FLS) last issued its earnings results 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 the consensus estimate of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. On average, equities analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a dividend of $0.21 per share. 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 (DPR) is 38.01%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FLS. Citigroup upped their target price on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Stifel Nicolaus upped their target price on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. Wall Street Zen upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Finally, Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $65.88.

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.