Sanctuary Advisors LLC Purchases 4,670 Shares of Flowserve Co. (NYSE:FLS)

Sanctuary Advisors LLC increased its position in Flowserve Co. (NYSE:FLS) by 35.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,686 shares of the industrial products company’s stock after acquiring an additional 4,670 shares during the quarter. Sanctuary Advisors LLC’s holdings in Flowserve were worth $914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of Flowserve by 155.2% during the 2nd quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock worth $126,259,000 after purchasing an additional 1,596,429 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Flowserve by 31.8% during the second quarter. AQR Capital Management LLC now owns 2,748,885 shares of the industrial products company’s stock worth $132,221,000 after buying an additional 663,631 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Flowserve by 197.6% in the third quarter. Point72 Asset Management L.P. now owns 913,268 shares of the industrial products company’s stock valued at $47,207,000 after acquiring an additional 606,416 shares during the period. Hood River Capital Management LLC acquired a new stake in Flowserve in the 2nd quarter worth $23,911,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Flowserve by 34.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company’s stock worth $86,055,000 after purchasing an additional 422,141 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.

Flowserve Stock Performance

Shares of NYSE:FLS opened at $58.06 on Monday. The business has a fifty day moving average of $58.11 and a 200-day moving average of $51.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. Flowserve Co. has a twelve month low of $39.21 and a twelve month high of $62.32. The firm has a market cap of $7.63 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41.

Flowserve (NYSE:FLS) last released its earnings results on Monday, October 28th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Flowserve had a net margin of 5.90% and a return on equity of 17.10%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Flowserve Co. will post 2.71 EPS for the current fiscal year.

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, December 27th. Flowserve’s dividend payout ratio (DPR) is currently 41.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup lifted their target price on Flowserve from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Robert W. Baird lifted their price target on shares of Flowserve from $65.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Mizuho upped their target price on shares of Flowserve from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus raised their price target on shares of Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.40.

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.