Flowserve Co. (NYSE:FLS) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its position in Flowserve Co. (NYSE:FLS) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,509 shares of the industrial products company’s stock after selling 303 shares during the quarter. Inspire Investing LLC’s holdings in Flowserve were worth $2,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Flowserve by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after purchasing an additional 144,704 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Flowserve by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after purchasing an additional 663,631 shares during the last quarter. Earnest Partners LLC boosted its holdings in Flowserve by 4.8% in the 2nd quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after purchasing an additional 121,873 shares during the last quarter. Millennium Management LLC boosted its holdings in Flowserve by 155.2% in the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after purchasing an additional 1,596,429 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Flowserve by 3.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,559,489 shares of the industrial products company’s stock valued at $123,112,000 after acquiring an additional 83,868 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Thursday. TD Cowen upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and set a $60.00 target price on shares of Flowserve in a research note on Tuesday, September 24th. Finally, Robert W. Baird upped their target price on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Flowserve Trading Up 2.3 %

Shares of Flowserve stock opened at $55.10 on Friday. The company has a fifty day simple moving average of $48.75 and a 200-day simple moving average of $48.34. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $55.17. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.27 and a beta of 1.39.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. Flowserve’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. On average, equities analysts forecast that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is currently 47.46%.

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.