Flowserve Corporation $FLS Stock Acquired by Diversified Trust Co

Diversified Trust Co increased its position in shares of Flowserve Corporation (NYSE:FLS) by 11.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 86,155 shares of the industrial products company’s stock after purchasing an additional 9,031 shares during the period. Diversified Trust Co’s holdings in Flowserve were worth $6,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new position in shares of Flowserve in the 2nd quarter valued at about $485,000. Public Employees Retirement System of Ohio bought a new stake in shares of Flowserve in the 2nd quarter valued at about $3,043,000. Bank of America Corp DE bought a new stake in shares of Flowserve in the 2nd quarter valued at about $144,400,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Flowserve in the 2nd quarter valued at about $5,265,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Flowserve in the 2nd quarter valued at about $6,858,000. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $82.96 on Friday. Flowserve Corporation has a 1 year low of $63.27 and a 1 year high of $92.41. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 1.84 and a beta of 1.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.10 and a quick ratio of 1.53. The company’s 50 day simple moving average is $74.85 and its 200 day simple moving average is $76.70.

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

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.1%. Flowserve’s payout ratio is 44.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup boosted their price target on Flowserve from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Stifel Nicolaus upped their price objective on Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Mizuho cut their price objective on Flowserve from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Robert W. Baird set a $93.00 price objective on Flowserve in a research report on Friday, July 31st. Finally, Weiss Ratings downgraded Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, November 4th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.12.

Flowserve Profile

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.