Graham Capital Management L.P. Buys Shares of 68,656 Flowserve Co. (NYSE:FLS)

Graham Capital Management L.P. purchased a new stake in shares of Flowserve Co. (NYSE:FLS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 68,656 shares of the industrial products company's stock, valued at approximately $3,949,000. Graham Capital Management L.P. owned about 0.05% of Flowserve at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. FIL Ltd increased its holdings in Flowserve by 71.7% in the 4th quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after purchasing an additional 2,193,904 shares during the last quarter. Norges Bank acquired a new stake in shares of Flowserve in the fourth quarter valued at $94,629,000. Driehaus Capital Management LLC raised its holdings in shares of Flowserve by 307.1% in the 4th quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock valued at $108,651,000 after buying an additional 1,424,948 shares during the period. Invesco Ltd. lifted its stake in Flowserve by 52.7% during the 4th quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after acquiring an additional 714,063 shares in the last quarter. Finally, Varenne Capital Partners acquired a new position in Flowserve in the 4th quarter valued at about $26,216,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Trading Down 0.3 %

Shares of Flowserve stock opened at $47.75 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $46.18 and a 200-day simple moving average of $54.80. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data 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. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Flowserve's revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Dividend Announcement

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

Wall Street Analysts Forecast Growth

FLS has been the topic of a number of research reports. Mizuho increased their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Citigroup decreased their target price on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a report on Monday, April 14th. Robert W. Baird cut their price target on Flowserve from $71.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada lifted their price objective on Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus upped their target price on shares of Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $64.11.

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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