R Squared Ltd Acquires 922 Shares of Flowserve Corporation $FLS

R Squared Ltd grew its holdings in Flowserve Corporation (NYSE:FLS) by 13.2% in the second quarter, HoldingsChannel reports. The fund owned 7,932 shares of the industrial products company’s stock after buying an additional 922 shares during the period. R Squared Ltd’s holdings in Flowserve were worth $415,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. KPP Advisory Services LLC boosted its position in shares of Flowserve by 2.3% in the second quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 222 shares during the period. Delta Investment Management LLC boosted its position in shares of Flowserve by 3.2% in the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock valued at $374,000 after acquiring an additional 237 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Flowserve by 0.9% in the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company’s stock valued at $1,378,000 after acquiring an additional 238 shares during the period. KBC Group NV boosted its position in shares of Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 258 shares during the period. Finally, Xponance Inc. boosted its position in shares of Flowserve by 1.8% in the first quarter. Xponance Inc. now owns 15,407 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 267 shares during the period. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

FLS has been the subject of several recent analyst reports. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. Stifel Nicolaus upped their price objective on shares of Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Zacks Research cut shares of Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup upped their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. One 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 stock. Based on data from MarketBeat, Flowserve has an average rating of “Moderate Buy” and an average price target of $65.88.

Flowserve Stock Up 1.4%

FLS stock opened at $53.39 on Friday. The stock has a market capitalization of $6.98 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 1.08 and a beta of 1.27. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $65.08. The firm has a 50-day moving average price of $53.63 and a 200-day moving average price of $50.97.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. As a group, equities research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a $0.21 dividend. 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 1.6%. Flowserve’s dividend payout ratio is 38.01%.

Insider Activity at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the transaction, the insider owned 37,196 shares of the company’s stock, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% of the company’s stock.

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.