Caxton Associates LLP Invests $550,000 in Flowserve Corporation $FLS

Key Points

• Caxton Associates LLP has newly acquired 11,256 shares of Flowserve Corporation (NYSE:FLS), valued at approximately $550,000, indicating growing institutional interest in the company.
• Equities analysts have set a consensus target price of $65.78 for Flowserve stock, with multiple firms issuing "buy" ratings amidst favorable growth forecasts.
• Flowserve recently announced a quarterly dividend of $0.21 per share scheduled for October 10th, reflecting a dividend yield of 1.5% and a payout ratio of 38.01%.

Caxton Associates LLP bought a new position in Flowserve Corporation (NYSE:FLS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,256 shares of the industrial products company's stock, valued at approximately $550,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Flowserve by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 4,856,358 shares of the industrial products company's stock valued at $237,185,000 after purchasing an additional 248,273 shares in the last quarter. Earnest Partners LLC increased its holdings in Flowserve by 6.8% during the 1st quarter. Earnest Partners LLC now owns 2,741,538 shares of the industrial products company's stock valued at $133,897,000 after purchasing an additional 173,528 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Flowserve by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,443,456 shares of the industrial products company's stock valued at $119,332,000 after purchasing an additional 75,374 shares in the last quarter. Nuveen LLC acquired a new stake in Flowserve during the 1st quarter valued at $111,598,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Flowserve by 6.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,954,365 shares of the industrial products company's stock valued at $95,451,000 after purchasing an additional 122,161 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

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 stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the transaction, the insider directly owned 37,196 shares in the company, valued at $1,979,571.12. This trade represents a 21.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is owned by corporate insiders.

Flowserve Trading Down 0.6%

Shares of NYSE FLS traded down $0.36 during midday trading on Friday, hitting $56.30. The stock had a trading volume of 1,480,516 shares, compared to its average volume of 1,479,548. The company's 50-day simple moving average is $54.02 and its 200 day simple moving average is $50.06. The firm has a market cap of $7.36 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.29. Flowserve Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50.

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

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, September 26th. Flowserve's dividend payout ratio (DPR) is currently 38.01%.

Analyst Ratings Changes

A number of research firms recently weighed in on FLS. The Goldman Sachs Group raised their price target on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Citigroup raised their price target on Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen cut Flowserve from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Royal Bank Of Canada lifted their target price on Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus lifted their target price on Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $65.78.

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.