Calamos Advisors LLC Makes New Investment in Flowserve Corporation (NYSE:FLS)

Calamos Advisors LLC acquired a new stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 37,115 shares of the industrial products company's stock, valued at approximately $1,813,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FIL Ltd grew its stake in shares of Flowserve by 71.7% during the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after acquiring an additional 2,193,904 shares during the last quarter. Norges Bank acquired a new stake in shares of Flowserve during the fourth quarter worth $94,629,000. Driehaus Capital Management LLC increased its position in shares of Flowserve by 307.1% in the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock valued at $108,651,000 after acquiring an additional 1,424,948 shares during the period. Invesco Ltd. lifted its position in Flowserve by 52.7% during the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after acquiring an additional 714,063 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in Flowserve by 57.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company's stock valued at $82,859,000 after purchasing an additional 527,250 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Wall Street Analysts Forecast Growth

FLS has been the topic of several research reports. Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a report on Friday, June 6th. Robert W. Baird decreased their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus increased their price target on Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Flowserve currently has an average rating of "Buy" and an average price target of $63.00.

Flowserve Trading Down 5.6%

Shares of FLS traded down $3.10 during midday trading on Monday, hitting $52.19. 4,837,610 shares of the stock were exchanged, compared to its average volume of 1,563,526. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.07. The firm has a market cap of $6.82 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.27 and a beta of 1.25. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. The stock has a fifty day simple moving average of $49.11 and a 200 day simple moving average of $52.23.

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, topping analysts' consensus estimates of $0.59 by $0.13. Flowserve had a net margin of 6.12% and a return on equity of 17.68%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.61%. The ex-dividend date is Friday, June 27th. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

About Flowserve

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.