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

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Flowserve by 58.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 270,574 shares of the industrial products company’s stock valued at $14,162,000 after buying an additional 99,766 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Flowserve by 33.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,841 shares of the industrial products company’s stock valued at $672,000 after buying an additional 3,237 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of Flowserve in the second quarter valued at approximately $207,000. Comprehensive Money Management Services LLC increased its stake in shares of Flowserve by 18.3% in the second quarter. Comprehensive Money Management Services LLC now owns 7,282 shares of the industrial products company’s stock valued at $381,000 after buying an additional 1,125 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Flowserve by 1,289.6% in the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock valued at $35,000 after buying an additional 619 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FLS. Royal Bank Of Canada upped their price objective on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Stifel Nicolaus increased 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 increased 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. Wall Street Zen raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Finally, The Goldman Sachs Group increased 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. 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. Based on data from MarketBeat.com, Flowserve has a consensus rating of “Buy” and a consensus target price of $65.88.

Insider Activity

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the transaction, the insider directly owned 37,196 shares in the company, valued at approximately $1,979,571.12. This represents a 21.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Flowserve Price Performance

Flowserve stock opened at $50.56 on Friday. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.03 and a beta of 1.27. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. The stock’s 50 day moving average price is $53.70 and its two-hundred day moving average price is $50.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10.

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

Flowserve Announces Dividend

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