GAMMA Investing LLC Acquires 530 Shares of Flowserve Co. (NYSE:FLS)

GAMMA Investing LLC boosted its holdings in shares of Flowserve Co. (NYSE:FLS) by 53.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,517 shares of the industrial products company’s stock after buying an additional 530 shares during the quarter. GAMMA Investing LLC’s holdings in Flowserve were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its position in shares of Flowserve by 2.8% during the 1st quarter. Moody National Bank Trust Division now owns 9,495 shares of the industrial products company’s stock valued at $434,000 after buying an additional 259 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Flowserve by 0.7% in the first quarter. Toronto Dominion Bank now owns 46,570 shares of the industrial products company’s stock worth $2,127,000 after purchasing an additional 305 shares during the period. Signaturefd LLC increased its stake in shares of Flowserve by 185.9% in the second quarter. Signaturefd LLC now owns 569 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 370 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Flowserve by 7.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,266 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 426 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in shares of Flowserve by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 164,765 shares of the industrial products company’s stock valued at $7,526,000 after buying an additional 433 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FLS has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on Flowserve from $50.00 to $52.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $60.00 price objective on shares of Flowserve in a research note on Tuesday, September 24th. TD Cowen increased their price objective on shares of Flowserve from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their price target on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price target on Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.33.

Flowserve Trading Down 3.0 %

Shares of NYSE FLS opened at $53.69 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.00 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $48.96 and a two-hundred day simple moving average of $48.42. The firm has a market cap of $7.07 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. Flowserve Co. has a twelve month low of $35.31 and a twelve month high of $55.37.

Flowserve (NYSE:FLS) last issued its earnings results on Monday, July 29th. The industrial products company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.10. The business had revenue of $1.16 billion during 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%. Flowserve’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. Analysts expect that Flowserve Co. will post 2.76 earnings per share for the current fiscal year.

Flowserve Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.56%. 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.