Flowserve Corporation (NYSE:FLS) Stock Position Increased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. increased its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 90.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,915 shares of the industrial products company's stock after buying an additional 23,229 shares during the period. Lecap Asset Management Ltd.'s holdings in Flowserve were worth $2,389,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC increased its position in shares of 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 purchasing an additional 479 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Flowserve in the fourth quarter worth about $33,000. Colonial Trust Co SC increased its holdings in Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after buying an additional 478 shares during the last quarter. True Wealth Design LLC increased its holdings in Flowserve by 80.1% in the fourth quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after buying an additional 394 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Flowserve by 185.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after buying an additional 595 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Stock Performance

Shares of NYSE FLS traded up $3.27 during midday trading on Thursday, hitting $51.86. 3,953,555 shares of the company's stock were exchanged, compared to its average volume of 1,461,067. Flowserve Corporation has a twelve month low of $37.34 and a twelve month high of $65.08. The firm has a market cap of $6.78 billion, a P/E ratio of 24.23, a PEG ratio of 1.10 and a beta of 1.26. The stock's 50 day moving average price is $47.56 and its 200-day moving average price is $52.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.07 and a quick ratio of 1.46.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.13. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Flowserve had a return on equity of 17.68% and a net margin of 6.12%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. Equities research analysts anticipate that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 annualized dividend and a yield of 1.62%. Flowserve's payout ratio is 39.25%.

Wall Street Analyst Weigh In

FLS has been the subject of several research reports. Mizuho set a $60.00 target price on Flowserve in a research report on Friday, May 16th. Stifel Nicolaus lifted their price objective on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Royal Bank Of Canada raised their price target on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Citigroup lowered their price objective on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $63.00.

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.