Sherbrooke Park Advisers LLC Acquires New Position in Flowserve Co. (NYSE:FLS)

Sherbrooke Park Advisers LLC purchased a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 25,741 shares of the industrial products company's stock, valued at approximately $1,481,000. Flowserve comprises 0.5% of Sherbrooke Park Advisers LLC's investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds also recently made changes to their positions in FLS. Headlands Technologies LLC boosted its holdings in shares of Flowserve by 4,790.0% in the 4th 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. Colonial Trust Co SC boosted its holdings in shares of Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 478 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 595 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings 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 valued at $62,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Stock Down 0.4%

Shares of FLS traded down $0.22 during midday trading on Monday, hitting $51.40. The company had a trading volume of 874,769 shares, compared to its average volume of 1,296,564. The company's 50 day moving average price is $46.56 and its 200 day moving average price is $54.74. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71.

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 the consensus estimate 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 net margin of 6.20% and a return on equity of 17.08%. The company's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, equities research analysts predict that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Baird R W upgraded shares of Flowserve from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Royal Bank of Canada lifted their target price on shares of Flowserve from $49.00 to $53.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Citigroup reduced their target price on shares of Flowserve from $72.00 to $56.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho set a $60.00 target price on shares of Flowserve in a report on Friday. Finally, StockNews.com upgraded shares of Flowserve from a "hold" rating to a "buy" rating in a report on Wednesday, April 30th. One 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's stock. According to data from MarketBeat, Flowserve currently has a consensus rating of "Buy" and a consensus price target of $63.00.

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.