Jefferies Financial Group Inc. Has $3.84 Million Position in Flowserve Corporation (NYSE:FLS)

Key Points

• Jefferies Financial Group Inc. increased its stake in Flowserve Corporation by 17.4%, holding 78,579 shares valued at approximately $3.84 million as of the end of the first quarter.
• Research firms have shown a positive outlook on Flowserve, with upgrades from Wall Street Zen and Citigroup, boosting its average target price to $65.78.
• Flowserve recently reported quarterly earnings of $0.91 per share, surpassing expectations, alongside a quarterly dividend of $0.21, translating to a 1.6% dividend yield.

Jefferies Financial Group Inc. boosted its position in Flowserve Corporation (NYSE:FLS - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,579 shares of the industrial products company's stock after purchasing an additional 11,649 shares during the quarter. Jefferies Financial Group Inc. owned about 0.06% of Flowserve worth $3,838,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FLS. American Century Companies Inc. lifted its position in Flowserve by 25.9% in the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock valued at $6,384,000 after purchasing an additional 22,850 shares during the last quarter. LPL Financial LLC increased its stake in Flowserve by 12.3% during the 4th quarter. LPL Financial LLC now owns 66,519 shares of the industrial products company's stock valued at $3,826,000 after buying an additional 7,302 shares during the period. JPMorgan Chase & Co. increased its stake in Flowserve by 22.0% during the 4th quarter. JPMorgan Chase & Co. now owns 353,387 shares of the industrial products company's stock valued at $20,327,000 after buying an additional 63,686 shares during the period. Pictet Asset Management Holding SA increased its stake in Flowserve by 9.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,752 shares of the industrial products company's stock valued at $1,079,000 after buying an additional 1,581 shares during the period. Finally, Franklin Resources Inc. increased its stake in Flowserve by 1.0% during the 4th quarter. Franklin Resources Inc. now owns 71,353 shares of the industrial products company's stock valued at $4,104,000 after buying an additional 708 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Flowserve Price Performance

Shares of FLS traded down $0.44 during mid-day trading on Thursday, hitting $53.34. The company's stock had a trading volume of 35,685 shares, compared to its average volume of 2,101,024. The firm has a 50-day moving average price of $51.56 and a 200 day moving average price of $51.57. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.13 and a beta of 1.28. 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 Corporation has a fifty-two week low of $37.34 and a fifty-two week high of $65.08.

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

Flowserve Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho set a $60.00 target price on shares of Flowserve in a research note on Friday, May 16th. The Goldman Sachs Group raised their target price 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. Robert W. Baird lowered their target price on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada raised their target price on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Citigroup lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.