Blueshift Asset Management LLC Acquires New Holdings in Flowserve Corporation (NYSE:FLS)

Key Points

• Blueshift Asset Management LLC acquired a new position in Flowserve Corporation, purchasing 10,260 shares valued at approximately $501,000 in the first quarter.
• Analysts have raised their price targets for Flowserve, with Stifel Nicolaus increasing it from $63.00 to $66.00 and giving it a "buy" rating, reflecting positive outlook on the stock.
• Flowserve recently declared a quarterly dividend of $0.21 per share, translating to an annual yield of 1.6% with a payout ratio of 38.01%.

Blueshift Asset Management LLC acquired a new position in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,260 shares of the industrial products company's stock, valued at approximately $501,000.

Other institutional investors have also modified their holdings of the company. Vontobel Holding Ltd. increased its stake in Flowserve by 0.9% in the 1st quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock valued at $1,378,000 after buying an additional 238 shares during the period. KBC Group NV grew its stake in shares of 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 period. Xponance Inc. grew its stake in shares of Flowserve by 1.8% during the 1st quarter. Xponance Inc. now owns 15,407 shares of the industrial products company's stock worth $752,000 after purchasing an additional 267 shares during the period. Quadrant Capital Group LLC grew its stake in shares of 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 period. Finally, Mariner LLC grew its stake in shares of Flowserve by 4.5% during the 4th quarter. Mariner LLC now owns 6,887 shares of the industrial products company's stock worth $396,000 after purchasing an additional 294 shares during the period. Hedge funds and other institutional investors own 93.93% of the company's stock.

Flowserve Stock Down 3.9%

NYSE:FLS traded down $2.18 during trading hours on Friday, hitting $53.86. The stock had a trading volume of 3,289,766 shares, compared to its average volume of 3,040,513. The company has a current ratio of 2.10, a quick ratio of 1.46 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The business has a 50 day simple moving average of $51.34 and a two-hundred day simple moving average of $51.68. The company has a market cap of $7.04 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.13 and a beta of 1.28.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.13. Flowserve had a net margin of 6.28% and a return on equity of 18.25%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.22 billion. Analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, June 27th. Flowserve's dividend payout ratio (DPR) is presently 38.01%.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of research reports. Citigroup increased their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Stifel Nicolaus increased their price objective on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday. The Goldman Sachs Group increased their price objective on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $65.78.

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.