Old Mutual Global Investors UK Ltd. Buys New Stake in Flowserve Corporation (FLS)

Old Mutual Global Investors UK Ltd. bought a new stake in Flowserve Corporation (NYSE:FLS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,100 shares of the industrial products company’s stock, valued at approximately $840,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in Flowserve Corporation by 21.1% in the first quarter. Bank of America Corp DE now owns 530,492 shares of the industrial products company’s stock valued at $25,686,000 after buying an additional 92,488 shares during the last quarter. World Asset Management Inc lifted its position in Flowserve Corporation by 15.6% in the first quarter. World Asset Management Inc now owns 14,777 shares of the industrial products company’s stock valued at $716,000 after buying an additional 1,989 shares during the last quarter. Great Lakes Advisors LLC lifted its position in Flowserve Corporation by 62.6% in the first quarter. Great Lakes Advisors LLC now owns 132,719 shares of the industrial products company’s stock valued at $6,426,000 after buying an additional 51,097 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Flowserve Corporation by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,682 shares of the industrial products company’s stock valued at $469,000 after buying an additional 2,204 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in Flowserve Corporation by 90.6% in the first quarter. Westfield Capital Management Co. LP now owns 658,358 shares of the industrial products company’s stock valued at $31,878,000 after buying an additional 312,993 shares during the last quarter.

Shares of Flowserve Corporation (NYSE:FLS) opened at 39.48 on Monday. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 49.35 and a beta of 1.45. Flowserve Corporation has a 1-year low of $37.51 and a 1-year high of $52.10. The company’s 50 day moving average is $40.51 and its 200-day moving average is $45.83.

Flowserve Corporation (NYSE:FLS) last released its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.43 by $0.21. The company had revenue of $877 million for the quarter, compared to analyst estimates of $933.91 million. Flowserve Corporation had a return on equity of 13.32% and a net margin of 2.68%. The business’s revenue was down 14.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. Equities analysts anticipate that Flowserve Corporation will post $1.43 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 22nd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, September 21st. Flowserve Corporation’s dividend payout ratio (DPR) is presently 98.70%.

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Several brokerages have recently issued reports on FLS. BidaskClub raised shares of Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Royal Bank Of Canada reissued a “sell” rating and set a $46.00 price target on shares of Flowserve Corporation in a research report on Tuesday, June 6th. Wolfe Research began coverage on shares of Flowserve Corporation in a research report on Tuesday, July 11th. They set an “underperform” rating and a $38.00 price target on the stock. Cowen and Company reissued a “buy” rating and set a $55.00 price target on shares of Flowserve Corporation in a research report on Friday, July 28th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Flowserve Corporation in a research report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Flowserve Corporation presently has an average rating of “Hold” and an average target price of $47.45.

About Flowserve Corporation

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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Institutional Ownership by Quarter for Flowserve Corporation (NYSE:FLS)

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