Susquehanna Fundamental Investments LLC Purchases 9,980 Shares of Flowserve Co. (NYSE:FLS)

Susquehanna Fundamental Investments LLC increased its holdings in shares of Flowserve Co. (NYSE:FLS) by 12.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 93,350 shares of the industrial products company’s stock after purchasing an additional 9,980 shares during the period. Susquehanna Fundamental Investments LLC owned approximately 0.07% of Flowserve worth $4,490,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FLS. Millennium Management LLC raised its position in shares of Flowserve by 155.2% during the second quarter. Millennium Management LLC now owns 2,624,919 shares of the industrial products company’s stock valued at $126,259,000 after buying an additional 1,596,429 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Flowserve in the 1st quarter worth approximately $41,413,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Flowserve during the 2nd quarter worth approximately $37,100,000. AQR Capital Management LLC increased its position 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 valued at $132,221,000 after purchasing an additional 663,631 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Flowserve by 5,256.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 612,298 shares of the industrial products company’s stock valued at $29,452,000 after purchasing an additional 600,866 shares in the last quarter. Institutional investors own 93.93% of the company’s stock.

Flowserve Trading Down 2.2 %

FLS opened at $51.37 on Monday. Flowserve Co. has a 1-year low of $35.31 and a 1-year high of $53.86. The stock has a market capitalization of $6.76 billion, a PE ratio of 29.02, a PEG ratio of 1.16 and a beta of 1.39. The company has a current ratio of 2.00, a quick ratio of 1.40 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $48.06 and a two-hundred day moving average price of $47.78.

Flowserve (NYSE:FLS) last announced its quarterly earnings data 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Flowserve had a return on equity of 16.74% and a net margin of 5.67%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. As a group, equities analysts anticipate that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.64%. Flowserve’s dividend payout ratio is currently 47.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FLS shares. StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Robert W. Baird increased their price target on shares of Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and set a $60.00 price objective on shares of Flowserve in a report on Tuesday, September 24th. TD Cowen raised their target price on Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $58.00 to $60.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.88.

About Flowserve

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.