USA Financial Formulas Purchases New Stake in Flowserve Co. (NYSE:FLS)

USA Financial Formulas purchased a new stake in Flowserve Co. (NYSE:FLS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,128 shares of the industrial products company’s stock, valued at approximately $295,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after acquiring an additional 37,132 shares in the last quarter. AQR Capital Management LLC raised its holdings in Flowserve by 31.8% in the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock valued at $132,221,000 after acquiring an additional 663,631 shares in the last quarter. Earnest Partners LLC raised its holdings in Flowserve by 4.8% in the second quarter. Earnest Partners LLC now owns 2,678,601 shares of the industrial products company’s stock valued at $128,841,000 after acquiring an additional 121,873 shares in the last quarter. Millennium Management LLC raised its holdings in Flowserve by 155.2% in the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after acquiring an additional 1,596,429 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock valued at $134,577,000 after acquiring an additional 44,039 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FLS shares. Citigroup cut their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a report on Monday. Bank of America boosted their target price on shares of Flowserve from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen boosted their target price on shares of Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $57.00 to $69.00 in a research note on Friday, November 22nd. Finally, StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 27th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average price target of $66.10.

Flowserve Stock Up 3.4 %

Flowserve stock opened at $62.76 on Friday. The company has a 50-day simple moving average of $59.77 and a 200-day simple moving average of $53.35. The firm has a market capitalization of $8.25 billion, a P/E ratio of 31.07, a P/E/G ratio of 1.17 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve Co. has a one year low of $39.37 and a one year high of $63.23.

Flowserve (NYSE:FLS) last announced its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, equities analysts expect that Flowserve Co. will post 2.71 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.34%. Flowserve’s dividend payout ratio is presently 41.58%.

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.