Quadrature Capital Ltd Boosts Stake in Flowserve Corp (NYSE:FLS)

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Quadrature Capital Ltd grew its stake in shares of Flowserve Corp (NYSE:FLS) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,482 shares of the industrial products company’s stock after buying an additional 2,231 shares during the quarter. Quadrature Capital Ltd’s holdings in Flowserve were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FLS. FIL Ltd grew its holdings in Flowserve by 2.1% in the second quarter. FIL Ltd now owns 15,389 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 315 shares during the last quarter. American International Group Inc. grew its stake in shares of Flowserve by 0.9% in the 1st quarter. American International Group Inc. now owns 44,699 shares of the industrial products company’s stock valued at $1,068,000 after purchasing an additional 415 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Flowserve by 2.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 24,756 shares of the industrial products company’s stock worth $592,000 after acquiring an additional 563 shares during the last quarter. Texas Permanent School Fund grew its position in Flowserve by 2.5% during the 1st quarter. Texas Permanent School Fund now owns 23,733 shares of the industrial products company’s stock worth $567,000 after acquiring an additional 578 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in Flowserve by 3.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 18,197 shares of the industrial products company’s stock worth $435,000 after acquiring an additional 592 shares during the last quarter. Hedge funds and other institutional investors own 94.13% of the company’s stock.

A number of research firms recently commented on FLS. Credit Suisse Group decreased their price target on Flowserve from $33.00 to $31.00 and set an “outperform” rating on the stock in a research report on Monday, August 3rd. Oppenheimer restated a “hold” rating on shares of Flowserve in a research report on Thursday, July 30th. Stifel Nicolaus decreased their price target on Flowserve from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Royal Bank of Canada increased their price target on Flowserve from $26.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Finally, UBS Group decreased their price target on Flowserve from $52.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Flowserve has a consensus rating of “Hold” and an average target price of $31.00.

FLS traded up $0.50 during mid-day trading on Friday, reaching $29.42. The stock had a trading volume of 1,000,151 shares, compared to its average volume of 853,325. Flowserve Corp has a 52 week low of $18.98 and a 52 week high of $51.25. The firm’s fifty day simple moving average is $29.98 and its two-hundred day simple moving average is $29.01. The stock has a market capitalization of $3.83 billion, a P/E ratio of 26.27, a P/E/G ratio of 3.54 and a beta of 1.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.60 and a current ratio of 2.23.

Flowserve (NYSE:FLS) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.24. The business had revenue of $924.97 million for the quarter, compared to analysts’ expectations of $890.88 million. Flowserve had a net margin of 3.77% and a return on equity of 14.96%. As a group, analysts expect that Flowserve Corp will post 1.65 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Thursday, September 17th. Flowserve’s dividend payout ratio (DPR) is presently 36.36%.

Flowserve Profile

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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