GAMMA Investing LLC Raises Holdings in Flowserve Co. (NYSE:FLS)

GAMMA Investing LLC increased its position in shares of Flowserve Co. (NYSE:FLS) by 19.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,807 shares of the industrial products company’s stock after purchasing an additional 290 shares during the quarter. GAMMA Investing LLC’s holdings in Flowserve were worth $104,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in shares of Flowserve in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in shares of Flowserve in the 3rd quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in Flowserve during the 3rd quarter worth approximately $29,000. Wilmington Savings Fund Society FSB purchased a new position in Flowserve during the 3rd quarter worth approximately $29,000. Finally, Allworth Financial LP grew its stake in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company’s stock worth $34,000 after buying an additional 403 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FLS. Jefferies Financial Group began coverage on Flowserve in a research note on Friday, October 18th. They set a “buy” rating and a $65.00 price target on the stock. The Goldman Sachs Group raised Flowserve from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $55.00 to $69.00 in a research report on Thursday, December 12th. StockNews.com cut Flowserve from a “strong-buy” rating to a “buy” rating in a report on Friday, December 27th. Citigroup raised their price target on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada raised Flowserve from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $57.00 to $69.00 in a report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.40.

Flowserve Stock Performance

Shares of FLS stock opened at $58.33 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The stock has a fifty day moving average price of $59.38 and a 200 day moving average price of $52.93. The stock has a market cap of $7.66 billion, a PE ratio of 28.88, a P/E/G ratio of 1.48 and a beta of 1.42. Flowserve Co. has a 1 year low of $39.37 and a 1 year high of $62.32.

Flowserve (NYSE:FLS) last released its quarterly earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Sell-side analysts forecast that Flowserve Co. will post 2.71 earnings per share for the current fiscal year.

Flowserve Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Friday, December 27th. Flowserve’s dividend payout ratio is currently 41.58%.

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.