Lecap Asset Management Ltd. Acquires 2,520 Shares of Flowserve Co. (NYSE:FLS)

Lecap Asset Management Ltd. increased its stake in shares of Flowserve Co. (NYSE:FLS) by 14.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,382 shares of the industrial products company’s stock after acquiring an additional 2,520 shares during the period. Lecap Asset Management Ltd.’s holdings in Flowserve were worth $1,002,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares during the period. V Square Quantitative Management LLC acquired a new position in Flowserve during the third quarter valued at approximately $27,000. nVerses Capital LLC acquired a new stake in shares of Flowserve in the 2nd quarter valued at $34,000. GAMMA Investing LLC raised its stake in Flowserve by 166.0% during the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 616 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Flowserve during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on FLS shares. The Goldman Sachs Group increased their target price on Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Bank of America restated a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research note on Tuesday, September 24th. Robert W. Baird lifted their price objective on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Flowserve Stock Performance

NYSE FLS opened at $53.00 on Thursday. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The business has a 50-day moving average price of $50.15 and a 200-day moving average price of $48.77. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $55.90.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.10. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts predict that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

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.