Flowserve Co. (NYSE:FLS) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in Flowserve Co. (NYSE:FLS) by 22.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,400 shares of the industrial products company’s stock after acquiring an additional 800 shares during the period. Daiwa Securities Group Inc.’s holdings in Flowserve were worth $253,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Flowserve by 14.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,182 shares of the industrial products company’s stock valued at $2,024,000 after purchasing an additional 4,458 shares during the last quarter. AlphaQuest LLC increased its stake in Flowserve by 86.4% in the fourth quarter. AlphaQuest LLC now owns 29,003 shares of the industrial products company’s stock valued at $1,668,000 after purchasing an additional 13,443 shares during the last quarter. Edgestream Partners L.P. increased its stake in Flowserve by 35.3% in the fourth quarter. Edgestream Partners L.P. now owns 10,384 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 2,712 shares during the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Flowserve in the fourth quarter valued at approximately $301,000. Finally, Inceptionr LLC purchased a new position in Flowserve in the fourth quarter valued at approximately $1,207,000. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Flowserve Stock Performance

NYSE:FLS opened at $49.00 on Monday. The firm’s fifty day moving average price is $58.36 and its 200 day moving average price is $56.30. Flowserve Co. has a 1-year low of $43.66 and a 1-year high of $65.08. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.97 and a quick ratio of 1.39. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43.

Flowserve (NYSE:FLS) last posted 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 net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. On average, sell-side analysts expect that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, March 28th. Flowserve’s dividend payout ratio (DPR) is currently 39.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup dropped their price target on shares of Flowserve from $73.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada lowered 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. Mizuho raised their target price on shares of Flowserve from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. StockNews.com lowered shares of Flowserve from a “buy” rating to a “hold” rating 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 raised their target price for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.60.

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.