Quadrature Capital Ltd Makes New $440,000 Investment in Flowserve Co. (NYSE:FLS)

Quadrature Capital Ltd bought a new position in Flowserve Co. (NYSE:FLS) during the 4th quarter, HoldingsChannel reports. The firm bought 10,673 shares of the industrial products company’s stock, valued at approximately $440,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock worth $552,573,000 after purchasing an additional 144,704 shares during the period. Wellington Management Group LLP raised its holdings in Flowserve by 2.5% in the third quarter. Wellington Management Group LLP now owns 10,134,913 shares of the industrial products company’s stock worth $403,065,000 after purchasing an additional 246,636 shares during the period. Dimensional Fund Advisors LP raised its holdings in Flowserve by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,003,699 shares of the industrial products company’s stock worth $82,595,000 after purchasing an additional 157,125 shares during the period. Norges Bank acquired a new stake in Flowserve in the fourth quarter worth $59,261,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Flowserve by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,259,002 shares of the industrial products company’s stock worth $51,896,000 after acquiring an additional 24,449 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert Scott Rowe sold 42,269 shares of Flowserve stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $49.98, for a total value of $2,112,604.62. Following the completion of the transaction, the chief executive officer now owns 407,243 shares of the company’s stock, valued at approximately $20,354,005.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Flowserve from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America raised their price objective on shares of Flowserve from $48.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird raised their price objective on shares of Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. TD Cowen raised their price objective on shares of Flowserve from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Mizuho restated a “buy” rating and set a $53.00 price objective (up from $50.00) on shares of Flowserve in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and an average target price of $51.55.

Flowserve Stock Down 0.6 %

Flowserve stock opened at $47.84 on Monday. The company has a market cap of $6.30 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Flowserve Co. has a 1-year low of $35.23 and a 1-year high of $50.49. The company has a fifty day simple moving average of $48.05 and a 200 day simple moving average of $44.35. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last released its earnings results on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Flowserve had a net margin of 5.29% and a return on equity of 15.50%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. Research analysts anticipate that Flowserve Co. will post 2.66 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is presently 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.