Flowserve Co. (NYSE:FLS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in Flowserve Co. (NYSE:FLS) by 3.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,379 shares of the industrial products company’s stock after selling 2,799 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Flowserve worth $3,626,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLS. Dimensional Fund Advisors LP increased its holdings in shares of Flowserve by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,249,297 shares of the industrial products company’s stock worth $108,191,000 after buying an additional 169,506 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Flowserve by 11.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,242,684 shares of the industrial products company’s stock valued at $59,773,000 after acquiring an additional 122,682 shares during the period. Envestnet Asset Management Inc. grew its position in Flowserve by 13.1% during the second quarter. Envestnet Asset Management Inc. now owns 240,039 shares of the industrial products company’s stock valued at $11,546,000 after acquiring an additional 27,818 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Flowserve by 10.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 47,869 shares of the industrial products company’s stock worth $2,302,000 after acquiring an additional 4,485 shares during the last quarter. Finally, TradeLink Capital LLC purchased a new position in shares of Flowserve in the 2nd quarter worth about $216,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Down 0.8 %

Shares of FLS opened at $47.90 on Monday. Flowserve Co. has a one year low of $35.31 and a one year high of $52.09. The stock has a 50-day moving average price of $47.98 and a 200 day moving average price of $47.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The company 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.

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

Flowserve Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.75%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Analyst Upgrades and Downgrades

FLS has been the subject of a number of research reports. TD Cowen boosted their target price on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird lifted their target price on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus upped 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. 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 note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.