Gallo Partners LP Makes New $870,000 Investment in Flowserve Co. (NYSE:FLS)

Gallo Partners LP purchased a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,124 shares of the industrial products company's stock, valued at approximately $870,000.

Several other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its stake in Flowserve by 4,790.0% during the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Flowserve in the 3rd quarter valued at about $29,000. UMB Bank n.a. grew its position in shares of Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after buying an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock worth $53,000 after acquiring an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Flowserve by 34.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after purchasing an additional 275 shares during the period. 93.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLS. Royal Bank of Canada upped their price objective on Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday. Mizuho increased their price objective on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. StockNews.com raised shares of Flowserve from a "hold" rating to a "buy" rating in a report on Wednesday. Stifel Nicolaus boosted their target price on shares of Flowserve from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Baird R W raised Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $64.11.

Flowserve Price Performance

Shares of Flowserve stock traded up $1.38 on Friday, hitting $47.54. The company had a trading volume of 1,963,985 shares, compared to its average volume of 1,284,608. The company has a market cap of $6.26 billion, a PE ratio of 22.22, a PEG ratio of 1.35 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08. The business has a 50-day simple moving average of $46.80 and a 200-day simple moving average of $55.03.

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

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.77%. Flowserve's dividend payout ratio is currently 39.25%.

About Flowserve

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.