Marshall Wace LLP Purchases New Holdings in Flowserve Co. (NYSE:FLS)

Marshall Wace LLP acquired a new position in shares of Flowserve Co. (NYSE:FLS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,676 shares of the industrial products company’s stock, valued at approximately $1,572,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position 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 during the period. nVerses Capital LLC bought a new position in Flowserve in the 2nd quarter valued at about $34,000. YHB Investment Advisors Inc. acquired a new position in shares of Flowserve in the 1st quarter valued at approximately $36,000. GAMMA Investing LLC lifted its holdings in shares of Flowserve by 166.0% during the 2nd quarter. GAMMA Investing LLC now owns 987 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 616 shares during the period. Finally, Raleigh Capital Management Inc. boosted its position in shares of Flowserve by 122.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 596 shares in the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on FLS. Royal Bank of Canada boosted their price objective on shares of Flowserve from $50.00 to $52.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Flowserve from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. TD Cowen lifted their target price on Flowserve from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America reissued a “buy” rating and issued a $60.00 target price on shares of Flowserve in a report on Tuesday, September 24th. Finally, Robert W. Baird lifted their price target on shares of Flowserve from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.88.

Flowserve Stock Up 0.9 %

Shares of NYSE FLS opened at $52.69 on Friday. 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 $53.86. The company has a 50 day simple moving average of $48.25 and a 200 day simple moving average of $48.03. The firm has a market cap of $6.94 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.39.

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

Flowserve Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Friday, September 27th. Flowserve’s dividend payout ratio is presently 47.46%.

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.