Capital Fund Management S.A. Takes $4.89 Million Position in Flowserve Corporation $FLS

Key Points

• Capital Fund Management S.A. has invested approximately $4.89 million in Flowserve Corporation, acquiring 100,048 shares during the first quarter, representing 0.08% ownership of the company.
• Flowserve recently announced a quarterly dividend of $0.21 per share, which will be paid on October 10th, with a current annualized yield of 1.6%.
• The company's earnings per share for the last quarter were reported at $0.91, outperforming analyst expectations of $0.78, while revenue amounted to $1.19 billion, slightly less than anticipated.

Capital Fund Management S.A. acquired a new position in shares of Flowserve Corporation (NYSE:FLS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,048 shares of the industrial products company's stock, valued at approximately $4,886,000. Capital Fund Management S.A. owned about 0.08% of Flowserve at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FLS. Nuveen LLC acquired a new position in shares of Flowserve during the 1st quarter worth about $111,598,000. Driehaus Capital Management LLC raised its holdings 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 purchasing an additional 1,424,948 shares during the period. Erste Asset Management GmbH raised its holdings in shares of Flowserve by 978.8% in the 1st quarter. Erste Asset Management GmbH now owns 1,003,800 shares of the industrial products company's stock valued at $49,025,000 after purchasing an additional 910,750 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Flowserve by 57.7% in 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 period. Finally, Moore Capital Management LP bought a new stake in shares of Flowserve in the 4th quarter valued at about $23,102,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLS. Wall Street Zen raised shares of Flowserve from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada upped their target price on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Robert W. Baird dropped their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Citigroup increased their price target on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Stifel Nicolaus increased their price target on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $65.78.

Insider Activity

In other news, insider Kirk Wilson sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $53.22, for a total transaction of $532,200.00. Following the completion of the transaction, the insider owned 37,196 shares of the company's stock, valued at approximately $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company's stock.

Flowserve Price Performance

Shares of NYSE FLS traded down $0.4390 during trading hours on Monday, hitting $53.1110. 1,309,163 shares of the stock were exchanged, compared to its average volume of 2,521,417. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. The company has a market cap of $6.95 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.28. The company's fifty day simple moving average is $52.72 and its two-hundred day simple moving average is $50.49. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, sell-side analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. Flowserve's dividend payout ratio (DPR) is presently 38.01%.

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.