Allspring Global Investments Holdings LLC buys 2,107 shares of Flowserve Co. (NYSE:FLS)

Allspring Global Investments Holdings LLC increased its stake in shares of Flowserve Co. (NYSE:FLS – Free Report) by 41.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,141 shares of the industrial products company’s stock after purchasing an additional 2,107 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Flowserve were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new position in Flowserve in the first quarter valued at approximately $36,000. Raleigh Capital Management Inc. raised its holdings in shares of Flowserve by 122.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after buying an additional 596 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after buying an additional 616 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in shares of Flowserve by 14,663.6% in the 4th quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock worth $67,000 after buying an additional 1,613 shares in the the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Flowserve in the first quarter worth $87,000. Institutional investors own 93.93% of the company’s shares.

Flowserve price performance

NYSE:FLS opened at $45.52 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.00, and a debt-to-equity ratio of 0.60. The company’s 50-day simple moving average is $48.10, and its two-hundred-day simple moving average is $47.15. The stock has a market cap of $5.99 billion, a PE ratio of 25.71, a P/E/G ratio of 1.19 and a beta of 1.42. Flowserve Co. it has a 52-week low of $35.31 and a 52-week high of $52.09.

Flowserve (NYSE:FLS – Get Your Free Report ) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company’s quarterly revenue was up 7.1% year over year. In the same period last year, the firm earned $0.52 per share. As a group, analysts estimate that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 27. This represents a dividend of $0.84 on an annualized basis and a yield of 1.85%. Flowserve’s dividend payout ratio is currently 47.46%.

Analysts on Wall Street are forecasting an increase

A number of analysts have commented on the company. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Stifel Nicolaus raised their target price on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America upped their target price on Flowserve from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. TD Cowen upped their target price on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note 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 stock. The company presently has a consensus rating of “Moderate Buy” and an average target price of $56.11, based on data from MarketBeat.

See our latest report on Flowserve

About Flowserve

(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 Asia Pacific. It operates through the Flowserve Pump Division (FPD) and Flow Control Division (FCD). The FPD segment offers custom and preconfigured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades and related aftermarket services; and equipment services, including installation and commissioning services, seal system spare parts, repairs, advanced diagnostics, retrofit and upgrade solutions, retrofit programs, and asset processing and management solutions, and manufactures a seal gas-lubricated mechanics for use in high-speed pipeline compressors and in the oil and gas production and process markets.

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