Dumont & Blake Investment Advisors LLC Has $990,000 Position in Flowserve Co. (NYSE:FLS)

Dumont & Blake Investment Advisors LLC trimmed its stake in shares of Flowserve Co. (NYSE:FLS) by 50.0% during the third quarter, Holdings Channel reports. The firm owned 19,158 shares of the industrial products company’s stock after selling 19,162 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Flowserve were worth $990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FLS. Signaturefd LLC boosted its stake in shares of Flowserve by 185.9% in the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Flowserve in the third quarter worth $27,000. nVerses Capital LLC acquired a new position in Flowserve during the 2nd quarter worth about $34,000. GAMMA Investing LLC raised its stake in shares of Flowserve by 166.0% in the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 616 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Flowserve during the second quarter valued at approximately $70,000. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 0.3 %

FLS stock traded down $0.16 during trading on Friday, hitting $52.36. The company had a trading volume of 8,134 shares, compared to its average volume of 1,065,479. The stock has a market cap of $6.89 billion, a PE ratio of 29.68, a PEG ratio of 1.27 and a beta of 1.39. Flowserve Co. has a one year low of $35.52 and a one year high of $55.90. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $50.25 and a 200-day moving average of $48.80.

Flowserve (NYSE:FLS) last posted its quarterly earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. Research analysts predict that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

FLS has been the topic of several recent research reports. Robert W. Baird raised their price target on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Jefferies Financial Group began coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Mizuho boosted their target price on Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.50.

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.