R Squared Ltd Acquires New Holdings in Flowserve Co. (NYSE:FLS)

R Squared Ltd bought a new stake in Flowserve Co. (NYSE:FLS) in the fourth quarter, Holdings Channel reports. The fund bought 7,139 shares of the industrial products company’s stock, valued at approximately $411,000.

Other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock worth $201,685,000 after acquiring an additional 37,132 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Flowserve by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock worth $134,577,000 after purchasing an additional 44,039 shares during the last quarter. Geode Capital Management LLC lifted its stake in Flowserve by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after purchasing an additional 23,529 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Flowserve by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock worth $90,761,000 after buying an additional 4,414 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after buying an additional 422,141 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Trading Up 2.1 %

Shares of NYSE:FLS opened at $61.09 on Wednesday. Flowserve Co. has a 12-month low of $39.69 and a 12-month high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $8.03 billion, a P/E ratio of 30.24, a price-to-earnings-growth ratio of 1.31 and a beta of 1.42. The firm has a fifty day moving average of $60.30 and a two-hundred day moving average of $54.33.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts expect that Flowserve Co. will post 2.7 EPS for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a $0.21 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.38%. Flowserve’s dividend payout ratio is currently 41.58%.

Analysts Set New Price Targets

FLS has been the subject of several research reports. TD Cowen raised their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Stifel Nicolaus lifted their price target on Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Jefferies Financial Group assumed coverage on shares of Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 price objective for the company. Bank of America lifted their target price on shares of Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

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.