Caxton Associates LLP Takes $550,000 Position 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 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,256 shares of the industrial products company's stock, valued at approximately $550,000.

A number of other hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Flowserve during the 4th quarter valued at $33,000. Signaturefd LLC increased its holdings in shares of Flowserve by 71.5% during the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock worth $50,000 after purchasing an additional 429 shares during the period. Strengthening Families & Communities LLC acquired a new position in shares of Flowserve during the first quarter valued at about $53,000. Brooklyn Investment Group lifted its stake in shares of Flowserve by 47.2% in the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock valued at $53,000 after buying an additional 349 shares during the period. Finally, Tsfg LLC acquired a new stake in Flowserve during the first quarter worth about $70,000. 93.93% of the stock is currently owned by institutional investors.

Flowserve Stock Performance

Shares of NYSE FLS traded up $0.36 during trading hours on Wednesday, reaching $56.61. 473,987 shares of the stock were exchanged, compared to its average volume of 2,025,812. 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 0.63, a quick ratio of 1.50 and a current ratio of 2.10. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 1.16 and a beta of 1.29. The stock's fifty day simple moving average is $54.16 and its 200 day simple moving average is $50.11.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly 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 net margin of 6.28% and a return on equity of 18.25%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.22 billion. Sell-side analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's dividend payout ratio is 38.01%.

Insider Buying and Selling at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the sale, the insider directly owned 37,196 shares of the company's stock, valued at $1,979,571.12. This trade represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLS. Royal Bank Of Canada lifted their price target on shares of Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Wall Street Zen downgraded Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. The Goldman Sachs Group upped their price objective on Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Stifel Nicolaus boosted their price target on shares of Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Citigroup raised 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average 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.