RPG Investment Advisory LLC Buys Shares of 15,370 Flowserve Corporation $FLS

RPG Investment Advisory LLC bought a new stake in shares of Flowserve Corporation (NYSE:FLS) in the first quarter, Holdings Channel reports. The fund bought 15,370 shares of the industrial products company’s stock, valued at approximately $751,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FLS. Mariner LLC increased its stake in shares of Flowserve by 4.5% during the fourth quarter. Mariner LLC now owns 6,887 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 294 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Flowserve during the fourth quarter valued at approximately $212,000. First Trust Advisors LP increased its stake in shares of Flowserve by 73.1% during the fourth quarter. First Trust Advisors LP now owns 189,696 shares of the industrial products company’s stock valued at $10,911,000 after purchasing an additional 80,138 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Flowserve by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company’s stock valued at $136,213,000 after purchasing an additional 38,340 shares in the last quarter. Finally, Natixis grew its holdings in shares of Flowserve by 23.8% during the fourth quarter. Natixis now owns 19,323 shares of the industrial products company’s stock valued at $1,111,000 after buying an additional 3,710 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Insider Buying and Selling

In related news, insider Kirk Wilson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the transaction, the insider directly owned 37,196 shares of the company’s stock, valued at approximately $1,979,571.12. This trade represents a 21.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FLS. The Goldman Sachs Group increased their price target on shares of Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their target price on shares of Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday, May 16th. Wall Street Zen upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Finally, Robert W. Baird dropped their target price on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Flowserve has an average rating of “Buy” and a consensus price target of $65.78.

Flowserve Trading Down 0.4%

Shares of FLS stock opened at $51.9370 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.08 and a beta of 1.28. Flowserve Corporation has a 1 year low of $37.34 and a 1 year high of $65.08. The firm has a fifty day moving average price of $52.46 and a 200-day moving average price of $50.80.

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

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve’s dividend payout ratio (DPR) is currently 38.01%.

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.