Flowserve Corporation $FLS Shares Bought by Diversified Trust Co

Diversified Trust Co increased its position in shares of Flowserve Corporation (NYSE:FLS) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,155 shares of the industrial products company’s stock after purchasing an additional 9,031 shares during the period. Diversified Trust Co owned about 0.07% of Flowserve worth $6,300,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLS. BlackRock Inc. bought a new position in Flowserve in the second quarter worth $999,631,000. Beutel Goodman & Co Ltd. boosted its stake in Flowserve by 4.3% during the third quarter. Beutel Goodman & Co Ltd. now owns 3,454,279 shares of the industrial products company’s stock worth $252,576,000 after buying an additional 142,513 shares in the last quarter. PointState Capital LP bought a new stake in Flowserve in the 2nd quarter valued at $196,837,000. Bank of New York Mellon Corp increased its holdings in Flowserve by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,448,977 shares of the industrial products company’s stock valued at $180,024,000 after buying an additional 118,254 shares during the period. Finally, Bank of America Corp DE bought a new stake in Flowserve in the 2nd quarter valued at $144,400,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FLS shares. Citigroup raised their price objective on shares of Flowserve from $92.00 to $93.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Stifel Nicolaus lifted their target price on shares of Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wall Street Zen raised shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Weiss Ratings lowered shares of Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Finally, Robert W. Baird set a $93.00 price target on shares of Flowserve in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.12.

Flowserve Stock Performance

FLS stock opened at $82.96 on Friday. Flowserve Corporation has a twelve month low of $63.27 and a twelve month high of $92.41. The company has a quick ratio of 1.53, a current ratio of 2.10 and a debt-to-equity ratio of 0.86. The company has a market cap of $10.52 billion, a P/E ratio of 41.69, a price-to-earnings-growth ratio of 1.84 and a beta of 1.28. The business’s fifty day moving average is $74.85 and its 200-day moving average is $76.70.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.09. Flowserve had a net margin of 5.42% and a return on equity of 22.14%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Flowserve Corporation will post 4.16 EPS for the current year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, September 25th. Flowserve’s dividend payout ratio (DPR) is currently 44.22%.

About Flowserve

Flowserve Corporation is a global manufacturer of flow-control equipment and a provider of related services. Its products include pumps, valves, mechanical seals, and equipment used to monitor and control the movement of liquids and gases. The company serves customers in industries such as oil and gas, chemicals, power generation, water, and general industrial markets. In addition to supplying equipment, Flowserve provides maintenance, repair, and other aftermarket services to support customers’ operations.