Truist Financial Corp Grows Position in Flowserve Co. (NYSE:FLS)

Truist Financial Corp grew its stake in shares of Flowserve Co. (NYSE:FLSGet Rating) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,176 shares of the industrial products company’s stock after acquiring an additional 980 shares during the quarter. Truist Financial Corp’s holdings in Flowserve were worth $636,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Captrust Financial Advisors increased its position in Flowserve by 17.1% during the second quarter. Captrust Financial Advisors now owns 2,073 shares of the industrial products company’s stock worth $59,000 after buying an additional 303 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Flowserve by 4.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 7,883 shares of the industrial products company’s stock valued at $226,000 after purchasing an additional 344 shares during the period. State of Alaska Department of Revenue grew its position in shares of Flowserve by 2.4% in the second quarter. State of Alaska Department of Revenue now owns 18,771 shares of the industrial products company’s stock valued at $537,000 after purchasing an additional 445 shares during the period. US Bancorp DE grew its position in shares of Flowserve by 11.0% in the first quarter. US Bancorp DE now owns 8,139 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 807 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Flowserve by 2.8% in the second quarter. Victory Capital Management Inc. now owns 29,352 shares of the industrial products company’s stock valued at $840,000 after purchasing an additional 809 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Credit Suisse Group boosted their price target on Flowserve from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, November 2nd. Morgan Stanley boosted their price target on Flowserve from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Friday, January 6th. StockNews.com assumed coverage on Flowserve in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Mizuho boosted their price target on Flowserve from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, January 13th. Finally, The Goldman Sachs Group reduced their price objective on Flowserve from $29.00 to $25.00 and set a “sell” rating on the stock in a research note on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Flowserve has an average rating of “Hold” and an average price target of $31.63.

Flowserve Trading Up 2.2 %

NYSE:FLS opened at $33.29 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 2.04. Flowserve Co. has a one year low of $23.89 and a one year high of $37.59. The business’s 50-day simple moving average is $31.26 and its 200 day simple moving average is $30.03. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 52.02, a price-to-earnings-growth ratio of 1.51 and a beta of 1.61.

Flowserve (NYSE:FLSGet Rating) last released its quarterly earnings results on Monday, October 31st. The industrial products company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.15). Flowserve had a return on equity of 6.80% and a net margin of 2.41%. The business had revenue of $872.88 million during the quarter, compared to analyst estimates of $868.17 million. During the same quarter last year, the firm posted $0.29 EPS. The company’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that Flowserve Co. will post 0.91 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, December 29th. Flowserve’s dividend payout ratio is presently 125.00%.

About Flowserve

(Get Rating)

Flowserve Corp. engages in the manufacture and provision of aftermarket service for comprehensive flow control systems. It operates through the following segments: Flowserve Pumps Division and Flow Control Division. The Flowserve Pumps Division segment provides pumps, pre-configured industrial pumps, pump systems, mechanical seals, auxiliary systems and replacement parts and related services.

Further Reading

Want to see what other hedge funds are holding FLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flowserve Co. (NYSE:FLSGet Rating).

Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

Receive News & Ratings for Flowserve Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve and related companies with MarketBeat.com's FREE daily email newsletter.