Vontobel Holding Ltd. Acquires 649 Shares of Flowserve Co. (NYSE:FLS)

Vontobel Holding Ltd. increased its stake in Flowserve Co. (NYSE:FLS) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,245 shares of the industrial products company’s stock after acquiring an additional 649 shares during the quarter. Vontobel Holding Ltd.’s holdings in Flowserve were worth $1,512,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FLS. Signaturefd LLC increased its stake in Flowserve by 185.9% in 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 acquired a new stake in shares of Flowserve in the 2nd quarter valued at about $34,000. GAMMA Investing LLC increased its position in Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after buying an additional 616 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flowserve during the 2nd quarter worth approximately $70,000. Finally, Daiwa Securities Group Inc. bought a new position in Flowserve in the first quarter worth approximately $87,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Performance

FLS stock opened at $54.51 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The firm has a market cap of $7.18 billion, a PE ratio of 30.80, a P/E/G ratio of 1.27 and a beta of 1.39. The business has a 50 day moving average of $49.71 and a 200-day moving average of $48.64. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $55.90.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $0.52 EPS. As a group, sell-side analysts expect that Flowserve Co. will post 2.76 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is currently 47.46%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FLS. Jefferies Financial Group began coverage on Flowserve in a report on Friday. They set a “buy” rating and a $65.00 price objective for the company. Bank of America restated a “buy” rating and set a $60.00 price objective on shares of Flowserve in a report on Tuesday, September 24th. Stifel Nicolaus lifted their price objective on shares of Flowserve from $60.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group raised their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

Flowserve Company 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.