Comprehensive Money Management Services LLC bought a new stake in shares of Flowserve Corporation (NYSE:FLS – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,918 shares of the industrial products company’s stock, valued at approximately $736,000.
Several other institutional investors and hedge funds have also recently modified their holdings of FLS. BlackRock Inc. acquired a new position in Flowserve in the 2nd quarter worth about $999,631,000. PointState Capital LP acquired a new stake in Flowserve in the second quarter valued at approximately $196,837,000. Bank of New York Mellon Corp purchased a new stake in shares of Flowserve in the second quarter valued at approximately $177,380,000. Bank of America Corp DE purchased a new stake in shares of Flowserve in the second quarter valued at approximately $144,400,000. Finally, Norges Bank acquired a new position in shares of Flowserve during the 4th quarter worth approximately $117,964,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.
Flowserve Trading Down 0.9%
FLS opened at $82.03 on Friday. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23. The company’s 50 day simple moving average is $75.23 and its two-hundred day simple moving average is $77.17. Flowserve Corporation has a 1-year low of $48.71 and a 1-year high of $92.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.15 and a quick ratio of 1.58.
Flowserve Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 25th. Flowserve’s dividend payout ratio is presently 30.88%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on FLS. Stifel Nicolaus increased their target price on Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, July 31st. TD Cowen downgraded shares of Flowserve from a “buy” rating to a “hold” rating and decreased their price objective for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Citigroup reiterated a “buy” rating on shares of Flowserve in a research report on Thursday, April 30th. The Goldman Sachs Group set a $82.00 target price on shares of Flowserve in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada upped their price target on shares of Flowserve from $91.00 to $94.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.60.
Get Our Latest Stock Report on Flowserve
Flowserve Company Profile
Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.
Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.
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