Yousif Capital Management LLC Has $2.32 Million Position in Flowserve Corporation $FLS

Yousif Capital Management LLC reduced its stake in Flowserve Corporation (NYSE:FLS) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,333 shares of the industrial products company’s stock after selling 1,166 shares during the period. Yousif Capital Management LLC’s holdings in Flowserve were worth $2,321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. KPP Advisory Services LLC increased its holdings in shares of Flowserve by 2.3% in the second quarter. KPP Advisory Services LLC now owns 9,809 shares of the industrial products company’s stock valued at $514,000 after purchasing an additional 222 shares during the last quarter. Delta Investment Management LLC boosted its position in shares of Flowserve by 3.2% in the first quarter. Delta Investment Management LLC now owns 7,657 shares of the industrial products company’s stock valued at $374,000 after acquiring an additional 237 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Flowserve by 0.9% in the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company’s stock valued at $1,378,000 after acquiring an additional 238 shares during the period. KBC Group NV boosted its position in shares of Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 258 shares during the period. Finally, Xponance Inc. boosted its position in shares of Flowserve by 1.8% in the first quarter. Xponance Inc. now owns 15,407 shares of the industrial products company’s stock valued at $752,000 after acquiring an additional 267 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Flowserve Trading Up 0.3%

FLS opened at $50.56 on Friday. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08. The company has a 50-day simple moving average of $53.70 and a 200 day simple moving average of $50.63. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.03 and a beta of 1.27.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.13. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Analysts predict that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.84 annualized dividend and a yield of 1.7%. Flowserve’s payout ratio is presently 38.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FLS shares. Stifel Nicolaus boosted their target price on shares of Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Citigroup boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Flowserve in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on shares of Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Flowserve currently has an average rating of “Buy” and a consensus target price of $65.88.

Insider Buying and Selling

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider owned 37,196 shares of the company’s stock, valued at approximately $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Flowserve 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.