JB Capital LLC Decreases Stake in Flowserve Co. (NYSE:FLS)

JB Capital LLC trimmed its position in Flowserve Co. (NYSE:FLS) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,555 shares of the industrial products company’s stock after selling 457 shares during the quarter. JB Capital LLC’s holdings in Flowserve were worth $315,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. purchased a new position in Flowserve in the 1st quarter worth $36,000. Raleigh Capital Management Inc. increased its holdings in Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 616 shares during the last quarter. TFO Wealth Partners LLC increased its position in shares of Flowserve by 14,663.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Flowserve during the first quarter valued at $87,000. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLS. TD Cowen increased their price objective on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America boosted their price objective on shares of Flowserve from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Citigroup upped their price objective on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their price target on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.11.

Flowserve Price Performance

FLS stock traded up $1.05 during mid-day trading on Friday, reaching $49.12. 526,727 shares of the company’s stock were exchanged, compared to its average volume of 1,035,569. The stock’s 50 day moving average is $48.02 and its 200 day moving average is $46.70. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $52.09. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.19 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.28.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts expect that Flowserve Co. will post 2.72 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. Flowserve’s payout ratio is presently 47.46%.

Flowserve Company 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.