Charles Schwab Investment Management Inc. lowered its holdings in Flowserve Corp (NYSE:FLS) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 916,540 shares of the industrial products company’s stock after selling 1,168 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.70% of Flowserve worth $26,140,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its stake in shares of Flowserve by 3.9% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 129,752 shares of the industrial products company’s stock worth $5,858,000 after acquiring an additional 4,849 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Flowserve by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 17,523 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 610 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Flowserve by 34.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 6,821 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 1,738 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Flowserve by 2,062.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,588 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Flowserve by 4.8% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,751 shares of the industrial products company’s stock worth $615,000 after purchasing an additional 1,168 shares during the last quarter. Institutional investors and hedge funds own 94.13% of the company’s stock.
FLS has been the topic of several analyst reports. Oppenheimer reissued a “hold” rating on shares of Flowserve in a research report on Thursday, July 30th. Cowen downgraded Flowserve from an “outperform” rating to a “market perform” rating and set a $30.00 price objective on the stock. in a research note on Monday, July 6th. Morgan Stanley upped their target price on Flowserve from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Credit Suisse Group dropped their price target on shares of Flowserve from $33.00 to $31.00 and set an “outperform” rating on the stock in a research report on Monday, August 3rd. Finally, UBS Group dropped their target price on shares of Flowserve from $52.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $31.00.
Shares of FLS opened at $26.57 on Friday. The stock’s 50-day moving average price is $29.48 and its 200 day moving average price is $27.47. The company has a quick ratio of 1.60, a current ratio of 2.23 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 3.40 and a beta of 1.82. Flowserve Corp has a 12-month low of $18.98 and a 12-month high of $51.25.
Flowserve (NYSE:FLS) last issued its earnings results on Thursday, July 30th. The industrial products company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.24. Flowserve had a return on equity of 14.96% and a net margin of 3.77%. The business had revenue of $924.97 million during the quarter, compared to analyst estimates of $890.88 million. Equities research analysts expect that Flowserve Corp will post 1.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, September 17th. Flowserve’s payout ratio is 36.36%.
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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