Flowserve Co. (NYSE:FLS) Sees Large Increase in Short Interest

Flowserve Co. (NYSE:FLS) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 2,990,000 shares, an increase of 37.2% from the December 31st total of 2,180,000 shares. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 2.5 days.

Institutional Trading of Flowserve

Hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of Flowserve in the 3rd quarter worth $25,000. V Square Quantitative Management LLC purchased a new position in Flowserve in the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new stake in Flowserve during the 3rd quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new stake in Flowserve during the third quarter valued at about $29,000. Finally, Allworth Financial LP boosted its holdings in shares of Flowserve by 159.9% in the third quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the period. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Down 0.5 %

Shares of Flowserve stock opened at $62.66 on Friday. Flowserve has a 1-year low of $39.69 and a 1-year high of $65.08. The company has a market capitalization of $8.23 billion, a P/E ratio of 31.02, a PEG ratio of 1.25 and a beta of 1.42. The business’s fifty day moving average price is $60.42 and its two-hundred day moving average price is $54.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.99 and a quick ratio of 1.39.

Flowserve Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were given 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 1.34%. Flowserve’s dividend payout ratio (DPR) is 41.58%.

Analyst Ratings Changes

Several analysts have recently weighed in on FLS shares. Citigroup lowered their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada raised shares of Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $57.00 to $69.00 in a research report on Friday, November 22nd. TD Cowen lifted their price target on shares of Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Stifel Nicolaus boosted their target price on shares of Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Robert W. Baird increased their price target on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flowserve presently has a consensus rating of “Moderate Buy” and an average 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.