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

Graham Capital Management L.P. purchased a new position in shares of Flowserve Co. (NYSE:FLS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 68,656 shares of the industrial products company’s stock, valued at approximately $3,949,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. New York Life Investment Management LLC purchased a new stake in shares of Flowserve in the fourth quarter valued at about $800,000. American Century Companies Inc. lifted its stake in Flowserve by 25.9% in the 4th quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company’s stock valued at $6,384,000 after buying an additional 22,850 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Flowserve during the 4th quarter valued at $422,000. Commonwealth Equity Services LLC increased its position in Flowserve by 103.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company’s stock worth $1,197,000 after buying an additional 10,557 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Flowserve by 19.1% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com raised Flowserve from a “hold” rating to a “buy” rating in a research note on Wednesday, April 30th. Robert W. Baird decreased their target price on shares of Flowserve from $71.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. TD Cowen increased their price target on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Stifel Nicolaus raised their price objective on Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Mizuho lifted their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $64.11.

Flowserve Stock Performance

Flowserve stock opened at $47.75 on Friday. The stock’s 50-day moving average is $46.18 and its 200-day moving average is $54.80. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth 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. 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) 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. 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 period in the previous year, the firm earned $0.58 earnings per share. Flowserve’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts anticipate that Flowserve Co. will post 3.18 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve’s dividend payout ratio is presently 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.