Flowserve Co. (NYSE:FLS) Holdings Raised by Entropy Technologies LP

Entropy Technologies LP increased its stake in Flowserve Co. (NYSE:FLS) by 27.6% during the fourth quarter, HoldingsChannel reports. The firm owned 31,464 shares of the industrial products company’s stock after acquiring an additional 6,798 shares during the period. Entropy Technologies LP’s holdings in Flowserve were worth $1,810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLS. Point72 Asset Management L.P. boosted its holdings in shares of Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock worth $47,207,000 after buying an additional 606,416 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Flowserve by 34.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after purchasing an additional 422,141 shares during the period. FMR LLC boosted its stake in Flowserve by 15.6% in the 3rd quarter. FMR LLC now owns 893,200 shares of the industrial products company’s stock worth $46,170,000 after purchasing an additional 120,396 shares during the period. Concentric Capital Strategies LP purchased a new position in Flowserve during the 3rd quarter worth approximately $6,099,000. Finally, Roubaix Capital LLC acquired a new stake in Flowserve during the 3rd quarter valued at $4,859,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

FLS has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Robert W. Baird increased their price target on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup cut their target price on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and an average target price of $67.50.

Flowserve Stock Performance

Shares of FLS opened at $62.89 on Monday. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.42. The company’s fifty day moving average is $60.58 and its 200-day moving average is $55.02. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. Flowserve Co. has a 12 month low of $40.78 and a 12 month high of $65.08.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, December 27th. Flowserve’s payout ratio is 41.58%.

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.