Flowserve Co. (NYSE:FLS) Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Flowserve Co. (NYSE:FLS) by 220.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,095 shares of the industrial products company’s stock after purchasing an additional 86,751 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Flowserve worth $6,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLS. Signaturefd LLC increased 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 acquiring an additional 370 shares in the last quarter. nVerses Capital LLC acquired a new position in Flowserve in the 2nd quarter worth approximately $34,000. YHB Investment Advisors Inc. acquired a new stake in Flowserve during the 1st quarter valued at $36,000. Raleigh Capital Management Inc. lifted its holdings in shares of Flowserve by 122.4% in 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 boosted its position in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after buying an additional 616 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Price Performance

NYSE FLS opened at $46.65 on Monday. Flowserve Co. has a fifty-two week low of $35.31 and a fifty-two week high of $52.09. The stock’s 50-day moving average is $47.97 and its two-hundred day moving average is $47.31. The firm has a market cap of $6.13 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40.

Flowserve (NYSE:FLS) last posted its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts anticipate that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.80%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FLS shares. Bank of America increased their price objective on Flowserve from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Stifel Nicolaus increased their price target 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. Robert W. Baird boosted their price objective 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 increased their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Finally, TD Cowen boosted their price target on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Flowserve 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.