Flowserve Corporation $FLS Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its stake in Flowserve Corporation (NYSE:FLS) by 572.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,424 shares of the industrial products company’s stock after purchasing an additional 65,914 shares during the period. Allianz Asset Management GmbH owned approximately 0.06% of Flowserve worth $4,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of FLS. GAMMA Investing LLC boosted its stake in shares of Flowserve by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company’s stock valued at $112,000 after buying an additional 481 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Flowserve by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 15,393 shares of the industrial products company’s stock valued at $751,000 after buying an additional 415 shares in the last quarter. KPP Advisory Services LLC boosted its stake in shares of Flowserve by 33.8% in the first quarter. KPP Advisory Services LLC now owns 9,587 shares of the industrial products company’s stock valued at $468,000 after buying an additional 2,423 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Flowserve by 453.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company’s stock valued at $8,402,000 after buying an additional 139,939 shares in the last quarter. Finally, Tsfg LLC purchased a new stake in shares of Flowserve in the first quarter valued at approximately $70,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flowserve

In other news, insider Kirk Wilson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the transaction, the insider directly owned 37,196 shares of the company’s stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Citigroup lifted their price target on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 14th. The Goldman Sachs Group boosted their target price on Flowserve from $54.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Stifel Nicolaus boosted their target price on Flowserve from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Finally, Zacks Research downgraded Flowserve from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus price target of $65.88.

Flowserve Stock Performance

NYSE FLS opened at $52.73 on Friday. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.06 and a beta of 1.27. The business has a fifty day moving average of $53.62 and a 200-day moving average of $50.87. The company has a quick ratio of 1.50, a current ratio of 2.10 and a debt-to-equity ratio of 0.63.

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

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 26th. Flowserve’s payout ratio is 38.01%.

Flowserve Company Profile

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.