Point72 Asset Management L.P. Increases Stock Position in Flowserve Co. (NYSE:FLS)

Point72 Asset Management L.P. lifted its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 57.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,440,518 shares of the industrial products company's stock after buying an additional 527,250 shares during the period. Point72 Asset Management L.P. owned approximately 1.10% of Flowserve worth $82,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of FLS. Vanguard Group Inc. raised its stake in Flowserve by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,477,208 shares of the industrial products company's stock worth $775,209,000 after purchasing an additional 101,668 shares during the period. FIL Ltd raised its stake in Flowserve by 71.7% during the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock worth $302,271,000 after purchasing an additional 2,193,904 shares during the period. AQR Capital Management LLC raised its stake in Flowserve by 9.7% during the fourth quarter. AQR Capital Management LLC now owns 2,925,459 shares of the industrial products company's stock worth $168,272,000 after purchasing an additional 258,361 shares during the period. Dimensional Fund Advisors LP raised its stake in Flowserve by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,368,082 shares of the industrial products company's stock worth $136,213,000 after purchasing an additional 38,340 shares during the period. Finally, Invesco Ltd. raised its stake in Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock worth $118,953,000 after purchasing an additional 714,063 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FLS shares. Royal Bank of Canada lifted their target price on shares of Flowserve from $49.00 to $53.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Stifel Nicolaus upped 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. StockNews.com raised shares of Flowserve from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Robert W. Baird lowered their price objective on shares of Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Mizuho set a $60.00 price objective on shares of Flowserve in a research report on Friday. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $63.00.

Flowserve Stock Down 0.4%

Shares of Flowserve stock traded down $0.22 during trading on Monday, hitting $51.40. 874,769 shares of the stock were exchanged, compared to its average volume of 1,296,564. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The firm's 50-day moving average price is $46.50 and its 200 day moving average price is $54.76. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08. 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 (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, topping the consensus estimate of $0.59 by $0.13. The business had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. As a group, analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.63%. Flowserve's dividend payout ratio (DPR) is presently 39.25%.

Flowserve 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.