Moore Capital Management LP Invests $23.10 Million in Flowserve Co. (NYSE:FLS)

Moore Capital Management LP purchased a new stake in shares of Flowserve Co. (NYSE:FLS) during the fourth quarter, Holdings Channel.com reports. The firm purchased 401,635 shares of the industrial products company’s stock, valued at approximately $23,102,000.

Several other large investors have also recently made changes to their positions in FLS. Headlands Technologies LLC raised its position in Flowserve by 4,790.0% in the 4th quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 479 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the 3rd quarter valued at about $29,000. Colonial Trust Co SC boosted its holdings in Flowserve by 415.7% during the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 478 shares during the period. UMB Bank n.a. grew its position in Flowserve by 64.2% during the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 278 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Flowserve by 185.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 595 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLS has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. StockNews.com raised Flowserve from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. Royal Bank of Canada lifted their price objective on Flowserve from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Stifel Nicolaus upped their target price on Flowserve from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Finally, Baird R W upgraded shares of Flowserve from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $64.11.

Flowserve Price Performance

Shares of NYSE FLS opened at $47.75 on Monday. The company has a 50 day moving average of $46.18 and a 200 day moving average of $54.82. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. Flowserve Co. has a twelve month low of $37.34 and a twelve month high of $65.08. The firm has a market cap of $6.24 billion, a P/E ratio of 22.31, a PEG ratio of 1.35 and a beta of 1.21.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.76%. Flowserve’s dividend payout ratio is presently 39.25%.

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.