Jefferies Financial Group Inc. Raises Stock Holdings 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. grew its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 17.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,579 shares of the industrial products company's stock after acquiring 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 institutional investors and hedge funds have also made changes to their positions in the stock. Headlands Technologies LLC boosted its stake in Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock worth $28,000 after buying an additional 479 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Flowserve in the 4th quarter worth about $33,000. Colonial Trust Co SC raised its holdings in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after purchasing an additional 478 shares during the period. True Wealth Design LLC raised its holdings in shares of Flowserve by 80.1% in the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock worth $51,000 after purchasing an additional 394 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Flowserve by 71.5% in 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. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of research reports. Wall Street Zen upgraded Flowserve from a "buy" rating to a "strong-buy" rating in a report on Saturday. Citigroup raised their price objective on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Stifel Nicolaus raised their price objective on Flowserve from $63.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday. Robert W. Baird cut their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Mizuho set a $60.00 price objective on Flowserve in a report on Friday, May 16th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $65.78.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $53.86 on Friday. The company has a market cap of $7.04 billion, a P/E ratio of 24.37, a PEG ratio of 1.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.46 and a current ratio of 2.10. Flowserve Corporation has a one year low of $37.34 and a one year high of $65.08. The business's 50-day simple moving average is $51.34 and its 200 day simple moving average is $51.68.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 18.25% and a net margin of 6.28%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.22 billion. On average, sell-side analysts forecast that Flowserve Corporation will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

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. The ex-dividend date was Friday, June 27th. 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.

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