Alpine Woods Capital Investors LLC Reduces Holdings in Flowserve Corporation $FLS

Alpine Woods Capital Investors LLC decreased its holdings in Flowserve Corporation (NYSE:FLS) by 23.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,526 shares of the industrial products company’s stock after selling 10,925 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Flowserve were worth $1,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of Flowserve by 5.4% in the first quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock worth $237,185,000 after buying an additional 248,273 shares during the last quarter. Earnest Partners LLC raised its stake in Flowserve by 6.8% during the 1st quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock worth $133,897,000 after acquiring an additional 173,528 shares during the period. Dimensional Fund Advisors LP raised its stake in Flowserve by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company’s stock worth $119,332,000 after acquiring an additional 75,374 shares during the period. Nuveen LLC bought a new stake in Flowserve during the 1st quarter worth approximately $111,598,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Flowserve by 6.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,954,365 shares of the industrial products company’s stock worth $95,451,000 after acquiring an additional 122,161 shares during the period. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Insiders Place Their Bets

In related news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider owned 37,196 shares in the company, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Flowserve in a research note on Wednesday, October 8th. Stifel Nicolaus raised their target price on shares of Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $65.78.

Flowserve Trading Up 2.3%

Flowserve stock opened at $50.22 on Tuesday. The stock has a market cap of $6.57 billion, a P/E ratio of 22.72, a PEG ratio of 1.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $65.08. The firm’s 50 day moving average price is $53.89 and its 200-day moving average price is $50.61.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $1.19 billion for 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%. On average, equities analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, September 26th. Flowserve’s payout ratio is currently 38.01%.

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.