Flowserve Corporation $FLS Stock Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its position in Flowserve Corporation (NYSE:FLS) by 19.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 916,827 shares of the industrial products company’s stock after selling 227,574 shares during the period. William Blair Investment Management LLC’s holdings in Flowserve were worth $67,038,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pension & Wealth Management Advisors Inc. acquired a new position in Flowserve during the third quarter worth approximately $33,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Flowserve in the second quarter valued at approximately $34,000. Global Retirement Partners LLC acquired a new stake in shares of Flowserve in the second quarter valued at approximately $38,000. Root Financial Partners LLC acquired a new stake in shares of Flowserve in the third quarter valued at approximately $41,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Flowserve during the 2nd quarter worth approximately $48,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

FLS stock traded down $0.70 during mid-day trading on Friday, hitting $82.96. 1,047,661 shares of the company were exchanged, compared to its average volume of 1,715,936. The business has a 50 day simple moving average of $74.85 and a 200-day simple moving average of $76.70. The company has a current ratio of 2.10, a quick ratio of 1.53 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $10.52 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 1.84 and a beta of 1.28. Flowserve Corporation has a 1-year low of $63.27 and a 1-year high of $92.41.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Flowserve had a return on equity of 22.14% and a net margin of 5.42%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Flowserve Corporation will post 4.16 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, September 25th. Flowserve’s dividend payout ratio (DPR) is presently 44.22%.

Analyst Ratings Changes

FLS has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $82.00 target price on Flowserve in a report on Thursday, July 30th. Weiss Ratings downgraded Flowserve from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Royal Bank Of Canada raised their price target on Flowserve from $88.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Wall Street Zen raised shares of Flowserve from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Stifel Nicolaus upped their price objective on shares of Flowserve from $92.00 to $94.00 and gave the company a “buy” rating in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $88.12.

Flowserve Profile

Flowserve Corporation is a global manufacturer of flow-control equipment and a provider of related services. Its products include pumps, valves, mechanical seals, and equipment used to monitor and control the movement of liquids and gases. The company serves customers in industries such as oil and gas, chemicals, power generation, water, and general industrial markets. In addition to supplying equipment, Flowserve provides maintenance, repair, and other aftermarket services to support customers’ operations.