Veracity Capital LLC Buys 355 Shares of Flowserve Corporation $FLS

by · The Markets Daily

Veracity Capital LLC boosted its stake in shares of Flowserve Corporation (NYSE:FLS – Free Report) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 14,216 shares of the industrial products company’s stock after acquiring an additional 355 shares during the period. Veracity Capital LLC’s holdings in Flowserve were worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in Flowserve by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company’s stock worth $237,185,000 after acquiring an additional 248,273 shares during the last quarter. Earnest Partners LLC boosted its holdings in Flowserve by 6.8% in the first quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company’s stock valued at $133,897,000 after acquiring an additional 173,528 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Flowserve by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company’s stock valued at $119,332,000 after acquiring an additional 75,374 shares during the last quarter. Nuveen LLC bought a new position in Flowserve in the first quarter valued at about $111,598,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Flowserve by 6.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,954,365 shares of the industrial products company’s stock valued at $95,451,000 after acquiring an additional 122,161 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

FLS has been the topic of several recent research reports. Citigroup raised their price target on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 14th. Stifel Nicolaus raised their price target on Flowserve from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Wall Street Zen cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. The Goldman Sachs Group raised their price target on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada raised their target price on Flowserve from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $65.78.

View Our Latest Stock Report on Flowserve

Insider Buying and Selling at Flowserve

In other Flowserve news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total transaction of $532,200.00. Following the transaction, the insider owned 37,196 shares of the company’s stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

Flowserve Trading Up 0.5%

NYSE FLS opened at $56.56 on Tuesday. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.15 and a beta of 1.29. The stock’s 50 day moving average price is $54.10 and its two-hundred day moving average price is $50.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. Flowserve Corporation has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS – Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Flowserve had a return on equity of 18.25% and a net margin of 6.28%. As a group, analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. Flowserve’s payout ratio is 38.01%.

Flowserve 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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