AQR Capital Management LLC Boosts Stake in Flowserve Co. (NYSE:FLS)

AQR Capital Management LLC raised its position in Flowserve Co. (NYSE:FLS - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,925,459 shares of the industrial products company's stock after buying an additional 258,361 shares during the period. AQR Capital Management LLC owned approximately 2.23% of Flowserve worth $168,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in Flowserve by 24.2% in the 4th quarter. Northern Trust Corp now owns 1,125,737 shares of the industrial products company's stock valued at $64,752,000 after buying an additional 219,561 shares during the last quarter. Quarry LP boosted its position in Flowserve by 387.1% in the 4th quarter. Quarry LP now owns 1,515 shares of the industrial products company's stock valued at $87,000 after buying an additional 1,204 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Flowserve in the 4th quarter valued at about $3,595,000. Susquehanna Fundamental Investments LLC bought a new stake in Flowserve in the fourth quarter valued at about $6,529,000. Finally, Oberweis Asset Management Inc. increased its holdings in shares of Flowserve by 14.3% in the 4th quarter. Oberweis Asset Management Inc. now owns 468,590 shares of the industrial products company's stock valued at $26,953,000 after acquiring an additional 58,628 shares during the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Down 0.4 %

Shares of Flowserve stock opened at $44.64 on Tuesday. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $55.28.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. On average, equities analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's dividend payout ratio is 39.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FLS. Mizuho boosted their price target on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Royal Bank of Canada decreased their price target on Flowserve from $69.00 to $68.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Stifel Nicolaus decreased their price target on Flowserve from $77.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, StockNews.com cut Flowserve from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Flowserve presently has an average rating of "Moderate Buy" and an average price target of $64.30.

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.

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