KPP Advisory Services LLC Purchases 222 Shares of Flowserve Corporation $FLS

KPP Advisory Services LLC increased its position in Flowserve Corporation (NYSE:FLS) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,809 shares of the industrial products company’s stock after purchasing an additional 222 shares during the quarter. KPP Advisory Services LLC’s holdings in Flowserve were worth $514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TD Private Client Wealth LLC bought a new position in Flowserve in the second quarter worth $25,000. Hilltop National Bank bought a new position in Flowserve in the second quarter worth $31,000. IFP Advisors Inc lifted its position in Flowserve by 1,289.6% in the second quarter. IFP Advisors Inc now owns 667 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 619 shares during the period. Parallel Advisors LLC lifted its position in Flowserve by 74.5% in the second quarter. Parallel Advisors LLC now owns 806 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 344 shares during the period. Finally, Signaturefd LLC lifted its position in Flowserve by 71.5% in the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 429 shares during the period. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Performance

Flowserve stock opened at $52.73 on Friday. The stock has a 50-day simple moving average of $53.62 and a 200 day simple 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 Corporation has a 12-month low of $37.34 and a 12-month high of $65.08. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 1.06 and a beta of 1.27.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.22 billion. On average, research analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors 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 currently 38.01%.

Analysts Set New Price Targets

FLS has been the subject of a number of analyst reports. Wall Street Zen raised Flowserve from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Zacks Research cut Flowserve from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada lifted their price objective on Flowserve from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Citigroup lifted their price objective on Flowserve from $58.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group lifted their price objective on Flowserve from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Flowserve presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.

Insider Activity

In related news, insider Kirk Wilson sold 10,000 shares of Flowserve stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. 0.76% of the stock is owned by corporate insiders.

About Flowserve

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.