Westfield Capital Management Co. LP Has $46.27 Million Holdings in Flowserve Corporation (FLS)

Westfield Capital Management Co. LP raised its stake in Flowserve Corporation (NYSE:FLS) by 51.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 996,599 shares of the industrial products company’s stock after acquiring an additional 338,241 shares during the period. Westfield Capital Management Co. LP owned about 0.76% of Flowserve Corporation worth $46,272,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FLS. Huntington National Bank grew its position in Flowserve Corporation by 28.0% in the second quarter. Huntington National Bank now owns 2,195 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 480 shares during the period. Creative Planning grew its position in Flowserve Corporation by 6.2% in the second quarter. Creative Planning now owns 2,408 shares of the industrial products company’s stock valued at $112,000 after acquiring an additional 141 shares during the period. Harbour Capital Advisors LLC bought a new stake in Flowserve Corporation in the first quarter valued at $116,000. Federated Investors Inc. PA grew its position in Flowserve Corporation by 1.8% in the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 46 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new stake in Flowserve Corporation in the first quarter valued at $151,000.

FLS has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Flowserve Corporation in a research report on Friday, July 14th. BMO Capital Markets reiterated a “buy” rating and issued a $56.00 price target on shares of Flowserve Corporation in a research report on Tuesday, June 27th. Cowen and Company reiterated a “buy” rating and issued a $55.00 price target on shares of Flowserve Corporation in a research report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $45.00 price target on shares of Flowserve Corporation in a research report on Sunday, September 3rd. Finally, Zacks Investment Research upgraded Flowserve Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Flowserve Corporation currently has a consensus rating of “Hold” and a consensus target price of $47.45.

Flowserve Corporation (FLS) traded up 0.07% during trading on Friday, reaching $41.39. The company’s stock had a trading volume of 1,349,033 shares. The stock has a market cap of $5.41 billion, a P/E ratio of 51.74 and a beta of 1.45. Flowserve Corporation has a 1-year low of $37.51 and a 1-year high of $52.10. The company’s 50 day moving average price is $39.70 and its 200-day moving average price is $45.58.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.21). Flowserve Corporation had a net margin of 2.68% and a return on equity of 13.32%. The business had revenue of $877.00 million during the quarter, compared to the consensus estimate of $933.91 million. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts forecast that Flowserve Corporation will post $1.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Friday, September 22nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.84%. Flowserve Corporation’s payout ratio is 98.70%.

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Flowserve Corporation Profile

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

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Institutional Ownership by Quarter for Flowserve Corporation (NYSE:FLS)

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