Boothbay Fund Management LLC bought a new position in Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 62,496 shares of the industrial products company's stock, valued at approximately $3,595,000.
Several other large investors have also recently made changes to their positions in FLS. FIL Ltd increased its holdings in shares of Flowserve by 71.7% in the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the last quarter. Norges Bank bought a new stake in shares of Flowserve in the fourth quarter worth about $94,629,000. Invesco Ltd. increased its holdings in shares of Flowserve by 52.7% in the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after purchasing an additional 714,063 shares during the last quarter. Varenne Capital Partners bought a new stake in shares of Flowserve in the fourth quarter worth about $26,216,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Flowserve in the fourth quarter worth about $23,614,000. 93.93% of the stock is owned by institutional investors.
Flowserve Stock Performance
Shares of Flowserve stock traded up $0.88 on Thursday, reaching $46.11. 2,106,527 shares of the stock were exchanged, compared to its average volume of 1,643,034. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a twelve month low of $37.34 and a twelve month high of $65.08. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.35 and a beta of 1.22. The business has a 50 day moving average price of $47.12 and a two-hundred day moving average price of $55.14.
Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company posted $0.58 earnings per share. Flowserve's revenue for the quarter was up 5.2% on a year-over-year basis. Analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.
Flowserve Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Friday, March 28th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.
Analysts Set New Price Targets
Several research firms recently commented on FLS. Stifel Nicolaus lifted their price target on Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday. Mizuho boosted their target price on Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Royal Bank of Canada lifted their target price on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Robert W. Baird cut their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $63.10.
View Our Latest Report on FLS
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.
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