Thrivent Financial for Lutherans Buys 118,437 Shares of Flowserve Corporation $FLS

Thrivent Financial for Lutherans lifted its stake in Flowserve Corporation (NYSE:FLS) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,519,622 shares of the industrial products company’s stock after purchasing an additional 118,437 shares during the period. Thrivent Financial for Lutherans owned 1.20% of Flowserve worth $80,752,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FLS. AlphaQuest LLC boosted its position in Flowserve by 188.6% in the 3rd quarter. AlphaQuest LLC now owns 34,416 shares of the industrial products company’s stock valued at $1,829,000 after buying an additional 22,490 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Flowserve by 0.7% during the third quarter. Arizona State Retirement System now owns 38,689 shares of the industrial products company’s stock valued at $2,056,000 after acquiring an additional 263 shares during the period. New York State Common Retirement Fund boosted its holdings in Flowserve by 3.8% in the third quarter. New York State Common Retirement Fund now owns 333,393 shares of the industrial products company’s stock valued at $17,717,000 after acquiring an additional 12,182 shares during the last quarter. KPP Advisory Services LLC increased its position in Flowserve by 3.1% in the third quarter. KPP Advisory Services LLC now owns 10,117 shares of the industrial products company’s stock worth $538,000 after purchasing an additional 308 shares during the period. Finally, Intact Investment Management Inc. bought a new stake in Flowserve during the 3rd quarter worth about $659,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

FLS has been the subject of several analyst reports. TD Cowen reiterated a “buy” rating on shares of Flowserve in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flowserve in a research note on Thursday, January 22nd. Mizuho lifted their target price on shares of Flowserve from $60.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Bank of America reissued a “neutral” rating and issued a $73.00 price target (up previously from $60.00) on shares of Flowserve in a research note on Friday, November 14th. Finally, Citigroup raised their price target on Flowserve from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Flowserve presently has an average rating of “Moderate Buy” and a consensus price target of $79.90.

Flowserve Trading Down 0.8%

FLS opened at $77.99 on Monday. The firm’s fifty day moving average is $72.87 and its two-hundred day moving average is $62.33. The firm has a market cap of $9.91 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $78.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 2.10.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 26th. Flowserve’s payout ratio is presently 24.42%.

Insiders Place Their Bets

In related news, CFO Amy B. Schwetz sold 47,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $71.02, for a total transaction of $3,337,940.00. Following the completion of the sale, the chief financial officer directly owned 52,628 shares of the company’s stock, valued at approximately $3,737,640.56. This represents a 47.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lamar L. Duhon sold 1,609 shares of Flowserve stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $69.51, for a total transaction of $111,841.59. Following the completion of the transaction, the insider directly owned 15,116 shares in the company, valued at approximately $1,050,713.16. The trade was a 9.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 59,276 shares of company stock worth $4,196,578 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Flowserve Company Profile

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.