R Squared Ltd Buys New Position in Flowserve Co. (NYSE:FLS)

R Squared Ltd bought a new stake in Flowserve Co. (NYSE:FLS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,139 shares of the industrial products company’s stock, valued at approximately $411,000.

Several other institutional investors and hedge funds have also made changes to their positions in FLS. KPP Advisory Services LLC boosted its position in Flowserve by 3.2% in the 3rd quarter. KPP Advisory Services LLC now owns 7,038 shares of the industrial products company’s stock valued at $364,000 after buying an additional 215 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Flowserve by 0.6% in the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock worth $1,962,000 after acquiring an additional 215 shares in the last quarter. National Bank of Canada FI boosted its holdings in Flowserve by 4.1% in the third quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 252 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Flowserve by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,735 shares of the industrial products company’s stock worth $1,330,000 after purchasing an additional 277 shares during the last quarter. Finally, UMB Bank n.a. raised its position 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 in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Price Performance

Shares of FLS opened at $61.09 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39. The company has a market cap of $8.03 billion, a P/E ratio of 30.24, a PEG ratio of 1.31 and a beta of 1.42. Flowserve Co. has a 12 month low of $39.69 and a 12 month high of $65.08. The stock has a fifty day moving average price of $60.30 and a 200 day moving average price of $54.33.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $0.50 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. On average, research analysts forecast that Flowserve Co. will post 2.7 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.38%. Flowserve’s dividend payout ratio (DPR) is presently 41.58%.

Wall Street Analyst Weigh In

FLS has been the subject of a number of recent analyst reports. Citigroup decreased their price target 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. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Mizuho increased their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $55.00 to $69.00 in a research note on Thursday, December 12th. Finally, Robert W. Baird increased their target price on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

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.