Flowserve Co. (NYSE:FLS) Shares Bought by Versor Investments LP

Versor Investments LP grew its holdings in Flowserve Co. (NYSE:FLS) by 43.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,033 shares of the industrial products company’s stock after buying an additional 2,449 shares during the period. Versor Investments LP’s holdings in Flowserve were worth $462,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. True Wealth Design LLC purchased a new position in Flowserve in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Flowserve in the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Flowserve in the third quarter valued at about $29,000. UMB Bank n.a. increased its stake in shares of Flowserve by 64.2% during the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 278 shares during the period. Finally, Canton Hathaway LLC purchased a new position in Flowserve during the third quarter worth about $42,000. Institutional investors and hedge funds own 93.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FLS shares. StockNews.com cut Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Robert W. Baird upped their price objective on Flowserve from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. TD Cowen increased their price objective on Flowserve from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada decreased their target price on shares of Flowserve from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group upgraded shares of Flowserve from a “sell” rating to a “neutral” rating and increased their price target for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.60.

Flowserve Stock Performance

NYSE:FLS opened at $55.03 on Monday. 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 company has a market capitalization of $7.23 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.42. The firm has a 50-day moving average price of $60.16 and a two-hundred day moving average price of $56.18. Flowserve Co. has a twelve month low of $41.78 and a twelve month high of $65.08.

Flowserve (NYSE:FLS) last issued its quarterly earnings data 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). Flowserve had a return on equity of 17.08% and a net margin of 6.20%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.21 billion. As a group, research analysts expect that Flowserve Co. will post 3.18 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a $0.21 dividend. The ex-dividend date is Friday, March 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.53%. Flowserve’s dividend payout ratio is currently 39.25%.

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.