AlphaQuest LLC Purchases 13,443 Shares of Flowserve Co. (NYSE:FLS)

AlphaQuest LLC boosted its position in Flowserve Co. (NYSE:FLS) by 86.4% during the fourth quarter, Holdings Channel reports. The fund owned 29,003 shares of the industrial products company’s stock after acquiring an additional 13,443 shares during the period. AlphaQuest LLC’s holdings in Flowserve were worth $1,668,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in Flowserve by 1.0% in the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company’s stock valued at $201,685,000 after acquiring an additional 37,132 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Flowserve by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company’s stock valued at $134,577,000 after acquiring an additional 44,039 shares during the last quarter. Geode Capital Management LLC increased its stake in Flowserve by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company’s stock valued at $113,851,000 after acquiring an additional 23,529 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Flowserve by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company’s stock valued at $90,761,000 after acquiring an additional 4,414 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Flowserve by 34.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock valued at $86,055,000 after acquiring an additional 422,141 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Stock Performance

Flowserve stock opened at $48.44 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $59.35 and a 200-day moving average of $56.22. The firm has a market cap of $6.38 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.35 and a beta of 1.43. Flowserve Co. has a 1-year low of $43.00 and a 1-year high of $65.08.

Flowserve (NYSE:FLS) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. Sell-side analysts expect that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.73%. Flowserve’s dividend payout ratio (DPR) is presently 39.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FLS shares. Citigroup reduced their price objective on Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Mizuho raised their price objective on Flowserve from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Robert W. Baird raised their price objective on Flowserve from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. TD Cowen raised their price objective on Flowserve from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and raised their price objective for the company from $55.00 to $69.00 in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

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.