Flowserve Co. (NYSE:FLS) Holdings Lifted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in shares of Flowserve Co. (NYSE:FLS) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,559,489 shares of the industrial products company’s stock after acquiring an additional 83,868 shares during the period. Thrivent Financial for Lutherans owned approximately 1.94% of Flowserve worth $123,112,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eaton Financial Holdings Company LLC bought a new position in Flowserve in the 4th quarter valued at about $2,169,000. RBA Wealth Management LLC acquired a new position in shares of Flowserve during the 1st quarter valued at $3,112,000. Susquehanna Fundamental Investments LLC bought a new position in Flowserve during the first quarter valued at about $3,808,000. Hennessy Advisors Inc. boosted its stake in Flowserve by 14.1% during the first quarter. Hennessy Advisors Inc. now owns 617,900 shares of the industrial products company’s stock valued at $28,226,000 after buying an additional 76,400 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in Flowserve by 541.1% in the 1st quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company’s stock valued at $20,616,000 after acquiring an additional 350,889 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLS. Robert W. Baird boosted their target price on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted 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. Bank of America raised their price objective on shares of Flowserve from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Cowen raised their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $56.11.

Flowserve Price Performance

Shares of NYSE:FLS opened at $47.90 on Friday. The stock has a market capitalization of $6.31 billion, a P/E ratio of 27.06, a P/E/G ratio of 1.09 and a beta of 1.39. The business has a 50-day moving average of $47.98 and a two-hundred day moving average of $47.45. Flowserve Co. has a fifty-two week low of $35.31 and a fifty-two week high of $52.09. 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 released its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, beating 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

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.