Lecap Asset Management Ltd. Boosts Stock Position in Flowserve Co. (NYSE:FLS)

Lecap Asset Management Ltd. increased its position in Flowserve Co. (NYSE:FLS) by 32.5% in the 4th quarter, HoldingsChannel reports. The fund owned 25,686 shares of the industrial products company’s stock after buying an additional 6,304 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Flowserve were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLS. True Wealth Design LLC purchased a new stake in shares of Flowserve in the third quarter worth $25,000. V Square Quantitative Management LLC bought a new position in Flowserve in the 3rd quarter worth $27,000. Ashton Thomas Securities LLC purchased a new stake in Flowserve in the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB bought a new stake in Flowserve during the third quarter valued at about $29,000. Finally, Allworth Financial LP lifted its position 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 valued at $34,000 after acquiring an additional 403 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 27th. Mizuho boosted their target price on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen increased their price target on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Stifel Nicolaus lifted their price objective on Flowserve from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Citigroup lowered their target price on Flowserve from $73.00 to $72.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.50.

Flowserve Stock Performance

Shares of Flowserve stock opened at $63.32 on Friday. 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 stock’s fifty day moving average is $60.55 and its two-hundred day moving average is $54.87. Flowserve Co. has a 52 week low of $40.56 and a 52 week high of $65.08. The company has a market capitalization of $8.32 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.28 and a beta of 1.42.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.33%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio is presently 41.58%.

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.