Y Intercept Hong Kong Ltd raised its holdings in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 230.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,486 shares of the industrial products company's stock after acquiring an additional 24,751 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Flowserve were worth $1,733,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. increased its holdings in Flowserve by 0.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company's stock worth $1,527,000 after buying an additional 236 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Flowserve by 0.9% in the first quarter. Vontobel Holding Ltd. now owns 28,222 shares of the industrial products company's stock valued at $1,378,000 after purchasing an additional 238 shares during the period. KBC Group NV lifted its stake in shares of Flowserve by 4.8% in the first quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock worth $277,000 after buying an additional 258 shares during the last quarter. Xponance Inc. grew its stake in Flowserve by 1.8% in the 1st quarter. Xponance Inc. now owns 15,407 shares of the industrial products company's stock valued at $752,000 after buying an additional 267 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in Flowserve by 34.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 93.93% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on FLS shares. Stifel Nicolaus increased their target price on Flowserve from $59.00 to $63.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Robert W. Baird decreased their target price on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Citigroup raised their price objective on Flowserve from $58.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Royal Bank Of Canada boosted their price objective on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. One investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $64.00.
View Our Latest Research Report on Flowserve
Flowserve Price Performance
FLS stock traded up $0.49 during midday trading on Friday, reaching $54.85. 2,449,300 shares of the company's stock traded hands, compared to its average volume of 2,911,656. The company has a 50-day simple moving average of $50.82 and a two-hundred day simple moving average of $51.81. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.21 and a beta of 1.25. The company has a quick ratio of 1.46, a current ratio of 2.07 and a debt-to-equity ratio of 0.68. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08.
Flowserve (NYSE:FLS - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share 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 the consensus estimate 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 company posted $0.58 earnings per share. On average, analysts anticipate that Flowserve Corporation will post 3.18 earnings per share for the current year.
Flowserve Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.21 dividend. The ex-dividend date was Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.53%. Flowserve's dividend payout ratio is presently 39.25%.
Flowserve Company Profile
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Free Report)
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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