37,115 Shares in Flowserve Corporation (NYSE:FLS) Purchased by Calamos Advisors LLC

Calamos Advisors LLC purchased a new position in shares of Flowserve Corporation (NYSE:FLS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 37,115 shares of the industrial products company's stock, valued at approximately $1,813,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Flowserve by 0.6% during the 4th quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company's stock worth $2,193,000 after purchasing an additional 225 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Flowserve by 0.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after purchasing an additional 236 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Flowserve by 0.9% during the 1st quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock worth $1,378,000 after purchasing an additional 238 shares during the last quarter. KBC Group NV raised its holdings in Flowserve by 4.8% during the 1st quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock worth $277,000 after purchasing an additional 258 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Flowserve by 34.6% during 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 last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Price Performance

NYSE FLS opened at $55.29 on Monday. The business has a 50 day simple moving average of $49.11 and a 200 day simple moving average of $52.23. Flowserve Corporation has a 52-week low of $37.34 and a 52-week high of $65.08. 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 stock has a market cap of $7.23 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.27 and a beta of 1.25.

Flowserve (NYSE:FLS - Get Free Report) last posted its 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 return on equity of 17.68% and a net margin of 6.12%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the business earned $0.58 EPS. Flowserve's revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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 paid a dividend of $0.21 per share. The ex-dividend date is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.52%. Flowserve's payout ratio is 39.25%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FLS. Mizuho set a $60.00 price objective on Flowserve in a report on Friday, May 16th. Wall Street Zen raised Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Stifel Nicolaus upped their price target on Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Royal Bank Of Canada upped their price target on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $63.00.

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.

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