Flowserve Co. (NYSE:FLS) Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of Flowserve Co. (NYSE:FLS) by 58.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,786 shares of the industrial products company’s stock after purchasing an additional 15,029 shares during the period. American Century Companies Inc.’s holdings in Flowserve were worth $1,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FLS. Moody National Bank Trust Division lifted its stake in shares of Flowserve by 2.8% in the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 259 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after buying an additional 305 shares during the last quarter. Signaturefd LLC lifted its position in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after buying an additional 370 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Flowserve by 7.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after buying an additional 426 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Flowserve by 0.3% in the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after buying an additional 433 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Trading Down 1.8 %

FLS stock opened at $51.37 on Friday. Flowserve Co. has a 1-year low of $35.31 and a 1-year high of $53.86. The firm has a market cap of $6.76 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.16 and a beta of 1.39. The business’s 50 day moving average is $48.06 and its 200-day moving average is $47.74. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60.

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

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

Analyst Ratings Changes

A number of analysts have weighed in on FLS shares. TD Cowen boosted their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and issued a $60.00 price target on shares of Flowserve in a research report on Tuesday, September 24th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird boosted their price objective on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price objective on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.88.

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.