Flowserve Co. (NYSE:FLS) Shares Purchased by Diametric Capital LP

Diametric Capital LP boosted its holdings in shares of Flowserve Co. (NYSE:FLS) by 37.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,429 shares of the industrial products company’s stock after purchasing an additional 2,861 shares during the period. Diametric Capital LP’s holdings in Flowserve were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in shares of Flowserve in the 3rd quarter valued at about $25,000. Wilmington Savings Fund Society FSB acquired a new position in Flowserve in the third quarter valued at approximately $29,000. UMB Bank n.a. boosted its position in Flowserve by 64.2% in the 4th quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 278 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position 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 in the last quarter. Finally, Quintet Private Bank Europe S.A. acquired a new stake in shares of Flowserve during the 4th quarter worth approximately $63,000. 93.93% of the stock is owned by hedge funds and other institutional investors.

Flowserve Stock Up 0.2 %

Shares of FLS opened at $48.88 on Tuesday. The stock has a 50 day moving average price of $56.24 and a 200 day moving average price of $56.58. 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 stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.35 and a beta of 1.43. Flowserve Co. has a one year low of $43.66 and a one year high of $65.08.

Flowserve (NYSE:FLS) last issued its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.21 billion. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. Equities research analysts forecast that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, March 28th. Flowserve’s dividend payout ratio is currently 39.25%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FLS shares. StockNews.com downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Baird R W raised shares of Flowserve from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Citigroup cut their price target on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group upgraded Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Finally, Mizuho upped their target price on Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

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.