Dimensional Fund Advisors LP Buys 169,506 Shares of Flowserve Co. (NYSE:FLS)

Dimensional Fund Advisors LP increased its stake in Flowserve Co. (NYSE:FLS) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,249,297 shares of the industrial products company’s stock after buying an additional 169,506 shares during the period. Dimensional Fund Advisors LP owned 1.71% of Flowserve worth $108,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Flowserve during the second quarter valued at approximately $34,000. YHB Investment Advisors Inc. bought a new position in shares of Flowserve during the first quarter valued at approximately $36,000. Raleigh Capital Management Inc. increased its stake in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 596 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Flowserve by 166.0% during the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 616 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Up 1.5 %

NYSE:FLS opened at $48.60 on Tuesday. 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 Co. has a 12 month low of $35.31 and a 12 month high of $52.09. The company has a market cap of $6.40 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.39. The company has a 50 day simple moving average of $47.95 and a two-hundred day simple moving average of $47.56.

Flowserve (NYSE:FLS) last posted its 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 net margin of 5.67% and a return on equity of 16.74%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Flowserve Co. will post 2.76 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve’s payout ratio is 47.46%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus raised their target price on shares of Flowserve from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America raised their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird raised their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised 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. Finally, TD Cowen raised their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.11.

About Flowserve

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.