Los Angeles Capital Management LLC Has $4.03 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

Los Angeles Capital Management LLC raised its position in Flowserve Co. (NYSE:FLS) by 251.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 97,861 shares of the industrial products company’s stock after acquiring an additional 70,025 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Flowserve worth $4,034,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Clearbridge Investments LLC acquired a new position in Flowserve during the third quarter worth $29,745,000. AQR Capital Management LLC boosted its stake in shares of Flowserve by 270.4% during the 3rd quarter. AQR Capital Management LLC now owns 636,509 shares of the industrial products company’s stock worth $25,314,000 after buying an additional 464,667 shares during the last quarter. Pantechnicon Advisors LLP bought a new position in shares of Flowserve in the 3rd quarter valued at about $17,976,000. Schonfeld Strategic Advisors LLC increased its position in shares of Flowserve by 283.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 357,113 shares of the industrial products company’s stock valued at $14,202,000 after acquiring an additional 263,957 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Flowserve by 2.5% during the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after acquiring an additional 246,636 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Up 0.5 %

Shares of FLS stock opened at $47.52 on Monday. Flowserve Co. has a 12-month low of $32.49 and a 12-month high of $49.35. The company has a market capitalization of $6.26 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42. The firm has a 50 day moving average price of $45.45 and a two-hundred day moving average price of $41.61. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts predict that Flowserve Co. will post 2.62 earnings per share for the current year.

Flowserve Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Thursday, March 28th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.77%. This is a positive change from Flowserve’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 27th. Flowserve’s dividend payout ratio (DPR) is currently 47.46%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLS. Stifel Nicolaus boosted their price target on Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Royal Bank of Canada lifted their price objective on shares of Flowserve from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday, February 22nd. UBS Group upped their target price on shares of Flowserve from $46.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Citigroup raised their target price on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.55.

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.