Paradoxiom Capital L.P. Takes Position in Flowserve Co. (NYSE:FLS)

Paradoxiom Capital L.P. acquired a new position in shares of Flowserve Co. (NYSE:FLS) during the 4th quarter, Holdings Channel.com reports. The firm acquired 159,206 shares of the industrial products company’s stock, valued at approximately $9,158,000. Flowserve accounts for 3.8% of Paradoxiom Capital L.P.’s holdings, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System boosted 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 purchasing an additional 225 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in shares of Flowserve by 0.9% during the 4th 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 in the last quarter. Savant Capital LLC increased its stake in shares of Flowserve by 0.4% during the fourth 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 in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 275 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock valued at $41,000 after buying an additional 278 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLS has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Flowserve from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada raised their price objective on shares of Flowserve from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Citigroup decreased their target price on Flowserve from $72.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Mizuho increased their price target on shares of Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, TD Cowen boosted their price objective on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Flowserve currently has an average rating of “Buy” and a consensus target price of $64.11.

Flowserve Stock Performance

Shares of FLS opened at $52.14 on Wednesday. The firm has a market cap of $6.82 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company’s 50 day simple moving average is $46.25 and its 200-day simple moving average is $54.79. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. Flowserve Co. has a 12-month low of $37.34 and a 12-month high of $65.08.

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

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, March 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.61%. Flowserve’s dividend payout ratio (DPR) is 39.25%.

About Flowserve

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.