Envestnet Asset Management Inc. decreased its position in Flowserve Corp (NYSE:FLS) by 8.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,862 shares of the industrial products company’s stock after selling 2,032 shares during the period. Envestnet Asset Management Inc.’s holdings in Flowserve were worth $883,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Cigna Investments Inc. New purchased a new position in Flowserve during the first quarter worth about $205,000. D.A. Davidson & CO. purchased a new position in shares of Flowserve in the 2nd quarter worth about $216,000. Bbva Compass Bancshares Inc. purchased a new position in shares of Flowserve in the 2nd quarter worth about $220,000. 180 Wealth Advisors LLC purchased a new position in shares of Flowserve in the 1st quarter worth about $290,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Flowserve in the second quarter valued at about $323,000.

Shares of NYSE FLS traded up $0.62 during mid-day trading on Friday, reaching $50.04. The company had a trading volume of 1,669,971 shares, compared to its average volume of 1,298,262. The company has a quick ratio of 1.61, a current ratio of 2.25 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 1.87 and a beta of 1.53. Flowserve Corp has a 1-year low of $37.71 and a 1-year high of $56.86.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The business had revenue of $973.13 million for the quarter, compared to the consensus estimate of $923.89 million. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. Flowserve’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. As a group, analysts anticipate that Flowserve Corp will post 1.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 21st were given a dividend of $0.19 per share. The ex-dividend date was Thursday, September 20th. This represents a $0.76 dividend on an annualized basis and a yield of 1.52%. Flowserve’s payout ratio is 55.88%.

A number of research firms have recently issued reports on FLS. Credit Suisse Group began coverage on Flowserve in a research note on Friday. They set a “neutral” rating and a $55.00 price objective for the company. Stifel Nicolaus lifted their target price on Flowserve from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, October 8th. Northcoast Research upgraded Flowserve from a “neutral” rating to a “buy” rating in a research report on Thursday, September 13th. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Tuesday, September 11th. Finally, Morgan Stanley assumed coverage on Flowserve in a research note on Monday, August 20th. They set an “equal weight” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.23.

Flowserve Profile

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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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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