Roubaix Capital LLC Acquires Shares of 94,004 Flowserve Co. (NYSE:FLS)

Roubaix Capital LLC bought 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 institutional investor bought 94,004 shares of the industrial products company’s stock, valued at approximately $4,859,000. Flowserve makes up 2.7% of Roubaix Capital LLC’s holdings, making the stock its 10th largest position. Roubaix Capital LLC owned about 0.07% of Flowserve at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLS. Toronto Dominion Bank grew its holdings in Flowserve by 0.7% during the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after acquiring an additional 305 shares during the period. Signaturefd LLC grew its stake in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares during the period. Allworth Financial LP lifted its stake 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 purchasing an additional 403 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Flowserve by 7.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock worth $286,000 after buying an additional 426 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Flowserve by 0.3% during the first quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock worth $7,526,000 after buying an additional 433 shares during the period. 93.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FLS. The Goldman Sachs Group lifted their price target on shares of Flowserve from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Thursday, October 10th. Robert W. Baird lifted their price objective on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday. Bank of America boosted their target price on Flowserve from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Mizuho boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Flowserve has a consensus rating of “Moderate Buy” and an average target price of $60.10.

Flowserve Price Performance

NYSE:FLS opened at $53.75 on Thursday. Flowserve Co. has a 12-month low of $35.80 and a 12-month high of $55.90. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The company’s 50-day moving average is $50.60 and its two-hundred day moving average is $48.94. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, October 28th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. Research analysts expect that Flowserve Co. will post 2.76 EPS for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, September 27th. Flowserve’s dividend payout ratio is currently 47.46%.

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.