Capstone Investment Advisors LLC Invests $5.87 Million in Flowserve Co. (NYSE:FLS)

Capstone Investment Advisors LLC acquired a new position in Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 102,115 shares of the industrial products company's stock, valued at approximately $5,874,000. Capstone Investment Advisors LLC owned about 0.08% of Flowserve at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Headlands Technologies LLC raised its stake in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Flowserve during the third quarter worth approximately $29,000. UMB Bank n.a. raised its position in Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 278 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after purchasing an additional 275 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.2 %

Shares of FLS traded up $0.10 during midday trading on Wednesday, hitting $46.74. 953,838 shares of the company's stock traded hands, compared to its average volume of 1,278,226. Flowserve Co. has a 1 year low of $37.34 and a 1 year high of $65.08. The firm's fifty day moving average is $46.32 and its 200-day moving average is $54.87. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS - Get Free Report) last issued 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. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Flowserve's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS. As a group, sell-side analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, March 28th. Flowserve's payout ratio is 39.25%.

Analyst Ratings Changes

A number of analysts recently issued reports on FLS shares. Baird R W upgraded Flowserve from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Mizuho upped their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. TD Cowen boosted their target price on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Stifel Nicolaus raised their price target on Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Robert W. Baird cut their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $64.11.

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.