Ossiam Takes Position in Flowserve Corp (NYSE:FLS)

Ossiam purchased a new stake in Flowserve Corp (NYSE:FLS) during the second quarter, according to its most recent filing with the SEC. The firm purchased 2,222 shares of the industrial products company’s stock, valued at approximately $117,000.

Several other large investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Flowserve by 49.6% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,717,846 shares of the industrial products company’s stock valued at $143,203,000 after acquiring an additional 901,087 shares during the period. Geode Capital Management LLC grew its stake in Flowserve by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 1,795,400 shares of the industrial products company’s stock worth $68,149,000 after buying an additional 134,350 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Flowserve by 9.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,503,896 shares of the industrial products company’s stock worth $79,241,000 after buying an additional 130,878 shares during the last quarter. Northern Trust Corp grew its stake in Flowserve by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,472,218 shares of the industrial products company’s stock worth $77,571,000 after buying an additional 10,249 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Flowserve by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,041,122 shares of the industrial products company’s stock worth $39,583,000 after buying an additional 42,447 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.

Shares of FLS stock traded up $1.05 on Friday, hitting $48.58. The company had a trading volume of 21,947 shares, compared to its average volume of 986,930. The firm has a market cap of $6.34 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.67. The company has a 50-day moving average price of $44.54 and a 200-day moving average price of $47.53. The company has a quick ratio of 1.63, a current ratio of 2.28 and a debt-to-equity ratio of 0.88. Flowserve Corp has a twelve month low of $35.88 and a twelve month high of $56.86.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The business had revenue of $990.08 million during the quarter, compared to analysts’ expectations of $1 billion. Flowserve had a return on equity of 15.75% and a net margin of 5.41%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. Equities research analysts expect that Flowserve Corp will post 2.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. Flowserve’s dividend payout ratio is presently 43.43%.

Several brokerages recently weighed in on FLS. Credit Suisse Group upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Friday, August 2nd. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Friday, May 17th. Stifel Nicolaus boosted their target price on Flowserve from $49.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. TheStreet cut Flowserve from a “b-” rating to a “c+” rating in a research report on Tuesday, August 20th. Finally, ValuEngine cut Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.56.

About Flowserve

Flowserve Corporation designs, develops, 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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