Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its stake in Flowserve Corp (NYSE:FLS) by 10.4% during the second quarter, HoldingsChannel reports. The firm owned 17,325 shares of the industrial products company’s stock after selling 2,008 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Flowserve were worth $700,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FLS. Wells Fargo & Company MN lifted its holdings in shares of Flowserve by 29.2% during the first quarter. Wells Fargo & Company MN now owns 145,130 shares of the industrial products company’s stock valued at $6,288,000 after purchasing an additional 32,763 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Flowserve by 0.6% during the first quarter. Rhumbline Advisers now owns 245,212 shares of the industrial products company’s stock valued at $10,625,000 after purchasing an additional 1,417 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Flowserve by 1.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 395,556 shares of the industrial products company’s stock valued at $17,139,000 after purchasing an additional 6,835 shares in the last quarter. Mackay Shields LLC bought a new position in shares of Flowserve during the first quarter valued at $953,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Flowserve by 56.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,691 shares of the industrial products company’s stock valued at $1,720,000 after purchasing an additional 14,372 shares in the last quarter.

FLS stock opened at $52.36 on Friday. Flowserve Corp has a fifty-two week low of $37.71 and a fifty-two week high of $53.17. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.61 and a current ratio of 2.25. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 1.80 and a beta of 1.47.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, August 8th. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. Flowserve had a positive return on equity of 10.52% and a negative net margin of 0.79%. The company had revenue of $973.13 million for the quarter, compared to the consensus estimate of $923.89 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. Flowserve’s revenue was up 11.0% on a year-over-year basis. equities analysts predict that Flowserve Corp will post 1.69 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. Flowserve’s dividend payout ratio is 55.88%.

A number of research analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Flowserve in a report on Monday, August 20th. They set an “equal weight” rating and a $50.00 price target on the stock. Cowen upped their price target on Flowserve from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, August 14th. Oppenheimer reaffirmed a “hold” rating on shares of Flowserve in a report on Tuesday, August 14th. Zacks Investment Research raised Flowserve from a “sell” rating to a “hold” rating in a report on Monday, August 13th. Finally, Seaport Global Securities reissued a “hold” rating and issued a $47.00 target price on shares of Flowserve in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $47.27.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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