Jade Capital Advisors LLC Reduces Stock Holdings in Flowserve Co. (NYSE:FLS)

Jade Capital Advisors LLC lessened its stake in Flowserve Co. (NYSE:FLS) by 33.0% in the third quarter, Holdings Channel reports. The fund owned 20,264 shares of the industrial products company’s stock after selling 10,000 shares during the quarter. Jade Capital Advisors LLC’s holdings in Flowserve were worth $1,047,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on FLS shares. Stifel Nicolaus boosted their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Bank of America reaffirmed a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research report on Tuesday, September 24th. StockNews.com downgraded shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, TD Cowen raised their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.50.

Flowserve Price Performance

Shares of NYSE:FLS opened at $53.94 on Tuesday. The company has a market cap of $7.10 billion, a PE ratio of 30.47, a P/E/G ratio of 1.27 and a beta of 1.39. Flowserve Co. has a fifty-two week low of $35.31 and a fifty-two week high of $55.90. The firm has a 50-day simple moving average of $49.88 and a 200 day simple moving average of $48.70. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60.

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

Flowserve Dividend Announcement

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

About Flowserve

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.