AQR Capital Management LLC Has $132.22 Million Stock Holdings in Flowserve Co. (NYSE:FLS)

AQR Capital Management LLC boosted its holdings in shares of Flowserve Co. (NYSE:FLS) by 31.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,748,885 shares of the industrial products company’s stock after purchasing an additional 663,631 shares during the period. AQR Capital Management LLC owned about 2.09% of Flowserve worth $132,221,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of Flowserve by 185.9% during the 2nd quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after buying an additional 370 shares during the period. nVerses Capital LLC acquired a new position in Flowserve during the second quarter worth $34,000. YHB Investment Advisors Inc. bought a new position in shares of Flowserve during the first quarter valued at $36,000. Raleigh Capital Management Inc. boosted its stake in shares of Flowserve by 122.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 596 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Flowserve by 166.0% in the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 616 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Trading Up 0.7 %

Shares of FLS opened at $52.51 on Friday. The stock’s fifty day simple moving average is $48.03 and its 200-day simple moving average is $47.68. The firm has a market capitalization of $6.91 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39. Flowserve Co. has a 12-month low of $35.31 and a 12-month high of $53.86. 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 released its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. Flowserve had a net margin of 5.67% and a return on equity of 16.74%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Flowserve Co. will post 2.76 earnings per share for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, September 27th. Flowserve’s payout ratio is 47.46%.

Analyst Ratings Changes

FLS has been the subject of several analyst reports. Royal Bank of Canada lifted their price target on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Bank of America reiterated a “buy” rating and issued a $60.00 target price on shares of Flowserve in a research note on Tuesday. TD Cowen increased their price target on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price objective on Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price objective on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.88.

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.