Earnest Partners LLC Has $128.84 Million Position in Flowserve Co. (NYSE:FLS)

Earnest Partners LLC lifted its holdings in Flowserve Co. (NYSE:FLS) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,678,601 shares of the industrial products company’s stock after purchasing an additional 121,873 shares during the quarter. Earnest Partners LLC owned about 2.03% of Flowserve worth $128,841,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FLS. Silvercrest Asset Management Group LLC acquired a new position in shares of Flowserve in the first quarter valued at approximately $41,413,000. Vaughan Nelson Investment Management L.P. bought a new position in Flowserve during the 2nd quarter worth about $37,100,000. AQR Capital Management LLC raised its stake in shares of 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 period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Flowserve by 5,256.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after purchasing an additional 600,866 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Flowserve during the fourth quarter worth about $22,321,000. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Up 0.0 %

Shares of FLS stock opened at $52.16 on Thursday. Flowserve Co. has a 52-week low of $35.31 and a 52-week high of $53.86. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.16 and a beta of 1.39. The firm’s 50-day moving average is $47.98 and its 200-day moving average is $47.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Flowserve Co. will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders 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 1.61%. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Analysts Set New Price Targets

FLS has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price objective on shares of Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research report on Tuesday. TD Cowen lifted their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.11.

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.