Vaughan Nelson Investment Management L.P. Makes New Investment in Flowserve Co. (NYSE:FLS)

Vaughan Nelson Investment Management L.P. acquired a new stake in Flowserve Co. (NYSE:FLS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 771,316 shares of the industrial products company's stock, valued at approximately $37,100,000. Vaughan Nelson Investment Management L.P. owned approximately 0.59% of Flowserve at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Moody National Bank Trust Division lifted its stake in Flowserve by 2.8% in the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company's stock valued at $434,000 after buying an additional 259 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company's stock worth $2,127,000 after acquiring an additional 305 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Flowserve by 7.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company's stock worth $286,000 after purchasing an additional 426 shares in the last quarter. Retirement Systems of Alabama raised its stake in Flowserve by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company's stock valued at $7,526,000 after purchasing an additional 433 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Flowserve by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 58,004 shares of the industrial products company's stock valued at $2,391,000 after purchasing an additional 560 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the completion of the transaction, the chief executive officer now owns 407,243 shares of the company's stock, valued at approximately $20,354,005.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on FLS shares. Royal Bank of Canada increased their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a "sector perform" rating in a report on Wednesday, July 31st. StockNews.com downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th. Robert W. Baird upped their target price on Flowserve from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Mizuho reiterated a "buy" rating and set a $53.00 price target (up previously from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. Finally, Stifel Nicolaus upped their price objective on shares of Flowserve from $58.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.11.

Flowserve Stock Performance

Flowserve stock traded up $0.02 during trading hours on Friday, reaching $47.38. 1,019,841 shares of the stock were exchanged, compared to its average volume of 1,050,604. The stock has a market cap of $6.24 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.19 and a beta of 1.42. The firm's 50 day moving average is $47.97 and its 200 day moving average is $46.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.28 and a current ratio of 2.00. Flowserve Co. has a 52-week low of $35.31 and a 52-week high of $52.09.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts predict that Flowserve Co. will post 2.72 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve's payout ratio is currently 47.46%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.