Flowserve Co. (NYSE:FLS) Shares Purchased by Crestline Management LP

Crestline Management LP boosted its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 90.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,734 shares of the industrial products company's stock after acquiring an additional 46,918 shares during the quarter. Crestline Management LP owned 0.08% of Flowserve worth $5,679,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New York Life Investment Management LLC purchased a new position in shares of Flowserve during the fourth quarter valued at $800,000. American Century Companies Inc. increased its position in Flowserve by 25.9% during 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 period. New Age Alpha Advisors LLC bought a new stake in shares of Flowserve in the 4th quarter valued at about $422,000. Commonwealth Equity Services LLC boosted its stake in shares of Flowserve by 103.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock valued at $1,197,000 after purchasing an additional 10,557 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Flowserve by 19.1% during the fourth quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock valued at $104,000 after buying an additional 290 shares during the period. Institutional investors own 93.93% of the company's stock.

Analyst Ratings Changes

FLS has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. StockNews.com raised shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Royal Bank of Canada lifted their price objective 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. Baird R W raised shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Robert W. Baird decreased their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $64.11.

Flowserve Stock Down 0.3 %

FLS stock traded down $0.16 during midday trading on Friday, reaching $47.75. 1,011,869 shares of the company were exchanged, compared to its average volume of 1,279,470. The stock's 50-day simple moving average is $46.18 and its 200 day simple moving average is $54.79. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97.

Flowserve (NYSE:FLS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the firm earned $0.58 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. Flowserve's payout ratio is currently 39.25%.

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.