Dynamic Technology Lab Private Ltd Acquires Shares of 5,615 Flowserve Co. (NYSE:FLS)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Flowserve Co. (NYSE:FLS) in the 4th quarter, Holdings Channel.com reports. The fund acquired 5,615 shares of the industrial products company’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in Flowserve by 0.6% during the third quarter. HighTower Advisors LLC now owns 37,906 shares of the industrial products company’s stock valued at $1,962,000 after buying an additional 215 shares during the period. Arizona State Retirement System lifted its position in Flowserve by 0.6% during the fourth quarter. Arizona State Retirement System now owns 38,134 shares of the industrial products company’s stock valued at $2,193,000 after buying an additional 225 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in Flowserve by 0.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 26,553 shares of the industrial products company’s stock valued at $1,527,000 after buying an additional 236 shares during the period. Savant Capital LLC raised its position in shares of Flowserve by 0.4% in the 4th quarter. Savant Capital LLC now owns 61,565 shares of the industrial products company’s stock worth $3,541,000 after purchasing an additional 251 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Flowserve by 4.1% in the 3rd quarter. National Bank of Canada FI now owns 6,330 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FLS shares. Citigroup lowered their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Baird R W raised Flowserve from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Mizuho lifted 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. The Goldman Sachs Group raised 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 report on Thursday, December 12th. Finally, Stifel Nicolaus lifted their price target on Flowserve from $75.00 to $77.00 and gave the stock a “buy” 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Price Performance

Shares of NYSE:FLS opened at $44.54 on Thursday. Flowserve Co. has a fifty-two week low of $37.34 and a fifty-two week high of $65.08. The business has a 50-day simple moving average of $52.74 and a two-hundred day simple moving average of $56.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.35 and a beta of 1.22.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. On average, analysts expect that Flowserve Co. will post 3.18 earnings per share for the current 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 paid 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 dividend yield of 1.89%. 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.