Bailard Inc. Acquires 1,050 Shares of Flowserve Co. (NYSE:FLS)

Bailard Inc. raised its holdings in shares of Flowserve Co. (NYSE:FLS) by 9.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,095 shares of the industrial products company’s stock after purchasing an additional 1,050 shares during the quarter. Bailard Inc.’s holdings in Flowserve were worth $582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. YHB Investment Advisors Inc. bought a new stake in Flowserve during the 1st quarter valued at $36,000. Raleigh Capital Management Inc. increased its stake in Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 596 shares in the last quarter. GAMMA Investing LLC increased its stake in Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 616 shares in the last quarter. TFO Wealth Partners LLC increased its stake in Flowserve by 14,663.6% during the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Flowserve during the 1st quarter valued at $87,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

NYSE FLS traded up $0.09 during trading on Monday, hitting $49.21. 492,415 shares of the company’s stock traded hands, compared to its average volume of 1,032,262. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $52.09. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.19 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.28 and a current ratio of 2.00. The business has a 50 day moving average of $48.02 and a 200-day moving average of $46.79.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Flowserve Co. will post 2.72 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is 47.46%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. TD Cowen upped their target price on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group upped their target price on shares of Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Citigroup upped their target price on shares of Flowserve from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird boosted their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.11.

About Flowserve

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.