Flowserve Co. (NYSE:FLS) Stock Position Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in Flowserve Co. (NYSE:FLS) by 29.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,531 shares of the industrial products company’s stock after buying an additional 29,392 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.10% of Flowserve worth $6,695,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. National Bank of Canada FI boosted its position in Flowserve by 541.1% during the first quarter. National Bank of Canada FI now owns 415,732 shares of the industrial products company’s stock valued at $20,616,000 after purchasing an additional 350,889 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after buying an additional 1,596,429 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Flowserve in the 2nd quarter valued at approximately $37,100,000. Wealth Enhancement Advisory Services LLC increased its holdings in Flowserve by 5,256.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock worth $29,452,000 after buying an additional 600,866 shares during the last quarter. Finally, Interval Partners LP increased its stake in shares of Flowserve by 60.1% during the 2nd quarter. Interval Partners LP now owns 927,087 shares of the industrial products company’s stock worth $44,593,000 after purchasing an additional 348,107 shares during the last quarter. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price on Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Flowserve from $55.00 to $57.00 and gave the company a “sector perform” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen raised their target price on shares of Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.10.

Flowserve Stock Up 2.1 %

NYSE FLS opened at $61.15 on Tuesday. The firm has a 50-day simple moving average of $51.94 and a 200 day simple moving average of $49.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a market cap of $8.03 billion, a PE ratio of 30.27, a PEG ratio of 1.44 and a beta of 1.38. Flowserve Co. has a twelve month low of $37.24 and a twelve month high of $61.60.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts forecast that Flowserve Co. will post 2.72 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, September 27th. Flowserve’s dividend payout ratio (DPR) 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.