Flowserve Corporation (NYSE:FLS) Shares Acquired by KPP Advisory Services LLC

by · The Markets Daily

KPP Advisory Services LLC grew its stake in Flowserve Corporation (NYSE:FLS – Free Report) by 33.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,587 shares of the industrial products company’s stock after purchasing an additional 2,423 shares during the period. KPP Advisory Services LLC’s holdings in Flowserve were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FLS. Headlands Technologies LLC raised its holdings in shares of Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 479 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Flowserve during the fourth quarter valued at approximately $33,000. Colonial Trust Co SC raised its holdings in shares of Flowserve by 415.7% during the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 478 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Flowserve by 80.1% during the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 394 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 595 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of research analyst reports. Mizuho set a $60.00 target price on Flowserve in a report on Friday, May 16th. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Robert W. Baird dropped their price target on Flowserve from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus upped their price target on Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada upped their price target on Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $63.00.

Get Our Latest Stock Analysis on Flowserve

Flowserve Trading Up 6.7%

Shares of Flowserve stock opened at $51.86 on Friday. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.11 and a beta of 1.26. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07. The stock has a 50 day moving average of $47.76 and a 200 day moving average of $52.59.

Flowserve (NYSE:FLS – Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, research analysts predict that Flowserve Corporation will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.21 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.62%. Flowserve’s payout ratio is 39.25%.

Flowserve Company Profile

(Free Report)

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.

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