Nomura Holdings Inc. Makes New $6.38 Million Investment in Flowserve Co. (NYSE:FLS)

Nomura Holdings Inc. acquired a new stake in shares of Flowserve Co. (NYSE:FLS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 154,870 shares of the industrial products company’s stock, valued at approximately $6,384,000. Nomura Holdings Inc. owned approximately 0.12% of Flowserve at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLS. Contravisory Investment Management Inc. purchased a new stake in shares of Flowserve in the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. raised its stake 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 purchasing an additional 596 shares during the period. TFO Wealth Partners LLC lifted its holdings in shares of Flowserve by 14,663.6% in the fourth quarter. TFO Wealth Partners LLC now owns 1,624 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,613 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Flowserve during the third quarter valued at $107,000. Finally, Advisory Services Network LLC acquired a new position in Flowserve during the fourth quarter valued at $178,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Flowserve

In other news, CEO Robert Scott Rowe sold 42,269 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total transaction of $2,112,604.62. Following the sale, the chief executive officer now owns 407,243 shares in the company, valued at $20,354,005.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Flowserve Stock Up 1.5 %

FLS opened at $47.84 on Wednesday. Flowserve Co. has a fifty-two week low of $35.23 and a fifty-two week high of $50.49. The company has a market capitalization of $6.30 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.20 and a beta of 1.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.88 and a quick ratio of 1.28. The firm’s fifty day moving average price is $48.00 and its two-hundred day moving average price is $44.15.

Flowserve (NYSE:FLS) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. Flowserve’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, analysts anticipate that Flowserve Co. will post 2.66 EPS for the current year.

Flowserve Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, June 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.76%. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Wall Street Analyst Weigh In

FLS has been the subject of a number of research reports. Mizuho restated a “buy” rating and set a $53.00 price objective (up from $50.00) on shares of Flowserve in a research report on Wednesday, May 1st. Robert W. Baird raised their price target on shares of Flowserve from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup upped their price objective on shares of Flowserve from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. UBS Group increased their price objective on Flowserve from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus lifted their price target on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.55.

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.