GAMMA Investing LLC Increases Stock Position in Flowserve Co. (NYSE:FLS)

GAMMA Investing LLC raised its position in Flowserve Co. (NYSE:FLS) by 53.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,517 shares of the industrial products company’s stock after acquiring an additional 530 shares during the quarter. GAMMA Investing LLC’s holdings in Flowserve were worth $78,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC lifted its stake in 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 acquiring an additional 370 shares during the period. nVerses Capital LLC bought a new stake in shares of Flowserve during the 2nd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Flowserve during the second quarter valued at about $70,000. Daiwa Securities Group Inc. bought a new position in Flowserve in the first quarter worth about $87,000. Finally, Headlands Technologies LLC purchased a new stake in Flowserve in the first quarter worth about $149,000. 93.93% of the stock is owned by institutional investors.

Flowserve Stock Down 3.0 %

Shares of Flowserve stock opened at $53.69 on Wednesday. The company has a 50-day simple moving average of $48.96 and a two-hundred day simple moving average of $48.42. The stock has a market capitalization 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 52-week low of $35.31 and a 52-week high of $55.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.40 and a current ratio of 2.00.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Monday, July 29th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.10. The business had revenue of $1.16 billion for 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. On average, analysts anticipate that Flowserve Co. will post 2.76 EPS for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.21 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 1.56%. Flowserve’s payout ratio is 47.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Flowserve from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their price objective on Flowserve from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their target price on shares of Flowserve from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $60.00 price target on shares of Flowserve in a research note on Tuesday, September 24th. Finally, StockNews.com lowered shares of Flowserve from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Flowserve currently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

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.