Isthmus Partners LLC increased its stake in shares of Flowserve (NYSE:FLS) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,885 shares of the industrial products company’s stock after purchasing an additional 8,519 shares during the period. Isthmus Partners LLC owned approximately 0.10% of Flowserve worth $5,585,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in shares of Flowserve by 26.5% during the first quarter. Dimensional Fund Advisors LP now owns 958,608 shares of the industrial products company’s stock worth $41,536,000 after purchasing an additional 200,612 shares during the period. California Public Employees Retirement System grew its stake in shares of Flowserve by 8.3% during the first quarter. California Public Employees Retirement System now owns 314,475 shares of the industrial products company’s stock worth $13,626,000 after purchasing an additional 24,040 shares during the period. Employees Retirement System of Texas grew its stake in Flowserve by 4,066.7% in the first quarter. Employees Retirement System of Texas now owns 125,000 shares of the industrial products company’s stock valued at $5,416,000 after acquiring an additional 122,000 shares during the period. Norinchukin Bank The grew its stake in Flowserve by 14.7% in the first quarter. Norinchukin Bank The now owns 11,985 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 1,540 shares during the period. Finally, Heartland Advisors Inc. acquired a new position in Flowserve in the first quarter valued at about $4,979,000.
FLS has been the subject of a number of research analyst reports. Zacks Investment Research raised Flowserve from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. Royal Bank of Canada raised Flowserve from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, February 20th. Stifel Nicolaus decreased their target price on Flowserve from $47.00 to $44.00 and set a “hold” rating for the company in a research note on Tuesday, February 20th. Finally, DA Davidson set a $42.00 target price on Flowserve and gave the company a “hold” rating in a research note on Monday, May 14th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. Flowserve currently has an average rating of “Hold” and a consensus target price of $43.46.
Flowserve (NYSE:FLS) last issued its quarterly earnings results on Thursday, May 10th. The industrial products company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $919.90 million for the quarter, compared to analyst estimates of $881.72 million. Flowserve had a positive return on equity of 10.41% and a negative net margin of 0.03%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. analysts predict that Flowserve will post 1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 6th. Stockholders of record on Friday, June 22nd will be issued a $0.19 dividend. The ex-dividend date is Thursday, June 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.80%. Flowserve’s dividend payout ratio (DPR) is 55.88%.
Flowserve Corporation designs, 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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