Thrivent Financial for Lutherans Raises Stock Position in Flowserve Co. (NYSE:FLS)

Thrivent Financial for Lutherans lifted its position in shares of Flowserve Co. (NYSE:FLS - Free Report) by 3.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,559,489 shares of the industrial products company's stock after buying an additional 83,868 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.94% of Flowserve worth $123,112,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company's stock valued at $27,000 after buying an additional 370 shares in the last quarter. nVerses Capital LLC purchased a new stake in Flowserve in the 2nd quarter worth $34,000. YHB Investment Advisors Inc. purchased a new stake in Flowserve in the 1st quarter worth $36,000. Raleigh Capital Management Inc. lifted its stake in Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company's stock worth $45,000 after purchasing an additional 596 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company's stock worth $47,000 after purchasing an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FLS shares. TD Cowen boosted their price target on shares of Flowserve from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on shares of Flowserve from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Robert W. Baird boosted their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Bank of America boosted their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price target on shares of Flowserve from $50.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Flowserve presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.11.

Flowserve Trading Down 0.8 %

NYSE FLS traded down $0.38 during trading on Friday, hitting $47.90. The stock had a trading volume of 2,994,568 shares, compared to its average volume of 1,033,099. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.09 and a beta of 1.39. Flowserve Co. has a one year low of $35.31 and a one year high of $52.09. The stock has a 50 day simple moving average of $47.98 and a 200 day simple moving average of $47.49.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.10. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. Sell-side analysts predict that Flowserve Co. will post 2.76 earnings per share for the current year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, September 27th. Flowserve's payout ratio is currently 47.46%.

Flowserve 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.