497,120 Shares in Flowserve Co. (NYSE:FLS) Acquired by Hood River Capital Management LLC

Hood River Capital Management LLC purchased a new stake in shares of Flowserve Co. (NYSE:FLS) during the second quarter, Holdings Channel.com reports. The firm purchased 497,120 shares of the industrial products company’s stock, valued at approximately $23,911,000.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. Bank of America increased their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. TD Cowen raised their price target on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus raised their target price on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Flowserve presently has an average rating of “Moderate Buy” and a consensus target price of $56.11.

Flowserve Price Performance

FLS stock opened at $47.90 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.00 and a quick ratio of 1.40. Flowserve Co. has a 1 year low of $35.31 and a 1 year high of $52.09. The firm has a 50-day moving average of $47.98 and a 200 day moving average of $47.52. The company has a market cap of $6.31 billion, a P/E ratio of 27.06, a PEG ratio of 1.09 and a beta of 1.39.

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

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio is presently 47.46%.

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.