Expect Equity LLC Makes New $3.68 Million Investment in Flowserve Co. (NYSE:FLS)

Expect Equity LLC acquired a new position in shares of Flowserve Co. (NYSE:FLS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 63,950 shares of the industrial products company's stock, valued at approximately $3,678,000. Flowserve comprises approximately 3.8% of Expect Equity LLC's investment portfolio, making the stock its 3rd biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Flowserve by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock valued at $775,209,000 after acquiring an additional 101,668 shares in the last quarter. FIL Ltd boosted its stake in shares of Flowserve by 71.7% in the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after buying an additional 2,193,904 shares during the period. AQR Capital Management LLC boosted its stake in shares of Flowserve by 9.7% in the 4th quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company's stock valued at $168,272,000 after buying an additional 258,361 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Flowserve by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company's stock valued at $136,213,000 after buying an additional 38,340 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Flowserve by 52.7% in the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock valued at $118,953,000 after buying an additional 714,063 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Down 0.0%

Shares of NYSE:FLS traded down $0.01 during mid-day trading on Wednesday, hitting $52.10. 590,380 shares of the company traded hands, compared to its average volume of 1,283,214. The firm has a market cap of $6.81 billion, a P/E ratio of 24.35, a PEG ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. Flowserve Co. has a 52-week low of $37.34 and a 52-week high of $65.08. The firm's 50 day simple moving average is $46.25 and its 200 day simple moving average is $54.79.

Flowserve (NYSE:FLS - Get Free Report) last announced its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The company's revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. On average, equities analysts anticipate that Flowserve Co. will post 3.18 EPS 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 issued a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.61%. Flowserve's dividend payout ratio is presently 39.25%.

Analysts Set New Price Targets

Several research firms recently weighed in on FLS. Royal Bank of Canada boosted their target price on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. TD Cowen boosted their target price on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Stifel Nicolaus boosted their target price on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Citigroup dropped their target price on Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Mizuho increased their price objective on Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $64.11.

Flowserve Company 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.