Mubadala Investment Co PJSC acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 40,645 shares of the industrial products company's stock, valued at approximately $2,338,000.
Several other large investors also recently added to or reduced their stakes in the company. MJP Associates Inc. ADV purchased a new position in shares of Flowserve during the fourth quarter valued at $202,000. Moore Capital Management LP acquired a new stake in Flowserve during the 4th quarter worth about $23,102,000. Lighthouse Investment Partners LLC grew its stake in Flowserve by 200.6% during the 4th quarter. Lighthouse Investment Partners LLC now owns 433,264 shares of the industrial products company's stock valued at $24,921,000 after acquiring an additional 289,124 shares in the last quarter. Interval Partners LP increased its holdings in shares of Flowserve by 17.5% in the 4th quarter. Interval Partners LP now owns 1,418,069 shares of the industrial products company's stock valued at $81,567,000 after purchasing an additional 211,617 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Flowserve by 3.8% in the fourth quarter. Janus Henderson Group PLC now owns 57,767 shares of the industrial products company's stock worth $3,324,000 after purchasing an additional 2,100 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.
Flowserve Stock Performance
NYSE:FLS traded up $0.52 during midday trading on Friday, reaching $51.60. The stock had a trading volume of 1,701,566 shares, compared to its average volume of 1,298,258. The stock has a market capitalization of $6.75 billion, a P/E ratio of 24.11, a PEG ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The firm's fifty day simple moving average is $46.50 and its 200-day simple moving average is $54.75.
Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.
Flowserve Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's payout ratio is presently 39.25%.
Wall Street Analyst Weigh In
FLS has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Royal Bank of Canada boosted their price target on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Citigroup cut their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com raised Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Finally, Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flowserve has an average rating of "Buy" and a consensus price target of $64.11.
Get Our Latest Research Report on Flowserve
About Flowserve
(
Free Report)
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.
Further Reading
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