Diametric Capital LP Boosts Position in Flowserve Co. (NYSE:FLS)

Diametric Capital LP raised its stake in Flowserve Co. (NYSE:FLS) by 37.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,429 shares of the industrial products company’s stock after buying an additional 2,861 shares during the period. Diametric Capital LP’s holdings in Flowserve were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of FLS. State Street Corp raised its position in Flowserve by 1.0% during the 3rd quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after purchasing an additional 37,132 shares in the last quarter. Vestcor Inc purchased a new position in shares of Flowserve during the third quarter valued at $714,000. Stifel Financial Corp raised its holdings in shares of Flowserve by 14.0% in the third quarter. Stifel Financial Corp now owns 244,139 shares of the industrial products company’s stock valued at $12,619,000 after acquiring an additional 29,979 shares in the last quarter. New York Life Investment Management LLC purchased a new stake in Flowserve in the fourth quarter worth about $800,000. Finally, GAMMA Investing LLC grew its holdings in Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 290 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Flowserve from $75.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Robert W. Baird raised shares of Flowserve from a “neutral” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Monday, March 17th. TD Cowen upped their target price on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. 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. Finally, Mizuho boosted their price target on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Flowserve currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Flowserve Trading Up 0.2 %

Shares of NYSE:FLS opened at $48.88 on Tuesday. The business’s 50-day moving average is $56.24 and its 200 day moving average is $56.58. 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 1 year low of $43.66 and a 1 year high of $65.08. The firm has a market capitalization of $6.44 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, research analysts predict that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.72%. Flowserve’s dividend payout ratio is currently 39.25%.

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.