Flowserve Corporation $FLS Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its position in Flowserve Corporation (NYSE:FLS) by 13.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 362,733 shares of the industrial products company’s stock after acquiring an additional 43,164 shares during the quarter. Sei Investments Co.’s holdings in Flowserve were worth $26,665,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FLS. Norges Bank purchased a new stake in shares of Flowserve during the fourth quarter worth about $117,964,000. UBS Group AG lifted its stake in shares of Flowserve by 67.8% in the third quarter. UBS Group AG now owns 4,146,917 shares of the industrial products company’s stock worth $220,367,000 after acquiring an additional 1,676,284 shares in the last quarter. Merewether Investment Management LP purchased a new position in Flowserve in the second quarter valued at about $46,555,000. T. Rowe Price Investment Management Inc. boosted its holdings in Flowserve by 102.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,731,665 shares of the industrial products company’s stock valued at $120,143,000 after purchasing an additional 877,327 shares during the last quarter. Finally, Amundi grew its stake in Flowserve by 414.3% during the 4th quarter. Amundi now owns 1,047,698 shares of the industrial products company’s stock valued at $72,689,000 after purchasing an additional 843,995 shares in the last quarter. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Stock Up 1.1%

Shares of Flowserve stock opened at $73.46 on Wednesday. The business has a 50-day moving average price of $73.43 and a 200 day moving average price of $76.90. Flowserve Corporation has a fifty-two week low of $48.71 and a fifty-two week high of $92.41. The firm has a market cap of $9.39 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.64 and a beta of 1.23. The company has a quick ratio of 1.63, a current ratio of 2.22 and a debt-to-equity ratio of 0.73.

Flowserve (NYSE:FLS) last released its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $0.72 EPS. Flowserve’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, sell-side analysts forecast that Flowserve Corporation will post 4.04 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, June 26th. Flowserve’s payout ratio is 32.59%.

Insider Activity

In other news, Director Brian D. Savoy purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $67.34 per share, with a total value of $67,340.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $67,340. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FLS. Zacks Research lowered Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada decreased their price target on shares of Flowserve from $98.00 to $91.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Wall Street Zen lowered shares of Flowserve from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. TD Cowen cut shares of Flowserve from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $70.00 in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $83.00 price target on shares of Flowserve in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.70.

Flowserve 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.