New Century Financial Group LLC Invests $1.19 Million in Flowserve Co. (NYSE:FLS)

New Century Financial Group LLC purchased a new position in shares of Flowserve Co. (NYSE:FLS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,928 shares of the industrial products company’s stock, valued at approximately $1,185,000.

A number of other large investors also recently bought and sold shares of the business. Signaturefd LLC boosted its stake in shares of Flowserve by 185.9% during the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 370 shares during the period. V Square Quantitative Management LLC purchased a new stake in Flowserve in the 3rd quarter valued at about $27,000. nVerses Capital LLC bought a new position in Flowserve in the 2nd quarter worth about $34,000. GAMMA Investing LLC raised its stake in shares of Flowserve by 166.0% during the second quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 616 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flowserve in the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 0.5 %

Flowserve stock opened at $54.51 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00. The stock has a market cap of $7.18 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The stock has a 50-day moving average of $49.71 and a two-hundred day moving average of $48.64. Flowserve Co. has a one year low of $35.31 and a one year high of $55.90.

Flowserve (NYSE:FLS) last released its earnings results on Monday, July 29th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.10. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. Flowserve’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. On average, research analysts anticipate that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. Flowserve’s dividend payout ratio is currently 47.46%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their price target on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. Mizuho raised their target price on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group started coverage on shares of Flowserve in a research report on Friday. They issued a “buy” rating and a $65.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Finally, Bank of America reissued a “buy” rating and issued a $60.00 price objective on shares of Flowserve in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Flowserve has an average rating of “Moderate Buy” and a consensus price target of $58.50.

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.