Flowserve Corporation $FLS Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its holdings in shares of Flowserve Corporation (NYSE:FLS) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 916,827 shares of the industrial products company’s stock after selling 227,574 shares during the quarter. William Blair Investment Management LLC owned 0.72% of Flowserve worth $67,038,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. NorthCrest Asset Manangement LLC increased its stake in Flowserve by 4.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,225 shares of the industrial products company’s stock worth $225,000 after purchasing an additional 142 shares in the last quarter. Marathon Mission Inc. lifted its stake in Flowserve by 1.7% in the third quarter. Marathon Mission Inc. now owns 9,864 shares of the industrial products company’s stock valued at $721,000 after buying an additional 165 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Flowserve by 0.5% in the third quarter. Nisa Investment Advisors LLC now owns 34,401 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 167 shares during the period. Legacy Wealth Asset Management LLC increased its position in shares of Flowserve by 5.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,531 shares of the industrial products company’s stock worth $258,000 after acquiring an additional 170 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Flowserve by 3.9% during the second quarter. Dynamic Advisor Solutions LLC now owns 4,682 shares of the industrial products company’s stock worth $347,000 after acquiring an additional 176 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Down 0.8%

Shares of NYSE:FLS traded down $0.70 during midday trading on Friday, reaching $82.96. The company had a trading volume of 1,047,661 shares, compared to its average volume of 1,715,936. Flowserve Corporation has a 1-year low of $63.27 and a 1-year high of $92.41. The stock has a market cap of $10.52 billion, a PE ratio of 41.69, a P/E/G ratio of 1.84 and a beta of 1.28. 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 business’s 50 day moving average price is $74.85 and its 200 day moving average price is $76.70.

Flowserve (NYSE:FLS) last issued its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.07 EPS for the quarter, beating 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 business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. Research analysts forecast that Flowserve Corporation will post 4.16 EPS for the current fiscal year.

Flowserve Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on FLS. Wall Street Zen raised shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Stifel Nicolaus increased their target price on Flowserve from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup lifted their price target on Flowserve from $92.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Weiss Ratings lowered Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Finally, Royal Bank Of Canada boosted their price target on Flowserve from $88.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.